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Time to raise the individual income tax threshold? [Copy link] 中文

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Post time 2018-3-8 09:27:15 |Display all floors

In the Government Report, Premier Li said China will raise the individual income tax threshold. Shi Yaobin, deputy finance minister, told reporters in Beijing on Wednesday that the authorities planned to raise the threshold for personal income tax based on changes in basic living expenses. The tax threshold was increased to 3,500 yuan (US$550) from 2,000 yuan (US$315) in 2011, meaning that workers with a monthly salary of 3,500 or less do not pay any taxes after social insurance deductions. Dong Mingzhu, chairwoman and president of Gree Electric Appliance, proposes to raise the individual income tax threshold to 10,000 yuan a month. What do you think?

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Post time 2018-3-11 15:51:37 |Display all floors
Better than Australia. In Australia you can only earn $16,000 a year without paying any income tax and nobody can live in Australia for a year on $16,000 without assistance or living in extreme poverty because the cost of living in this nation is very high. Plus even citizens on an income of $16,000 or less pay at least 10% of that in GST taxes. The Australian Government and Australian society is very cruel and heartless when it comes to citizens on very low incomes.

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