As we all know, the personal income tax has been reformed. The original starting point is 3500 yuan, but now it is 5000 yuan. That is to say, if your salary is less than 5000 yuan, there is no need to deduct tax. At the same time, the 2019 personal income tax rate table has also been officially released. However, some people still don't know how much tax will be deducted from their salary of 5000 yuan?
Implementation of new personal income tax
In recent years, the personal income tax has been continuously reformed. Of course, the personal income tax has also changed this year. The State Administration of Taxation has issued the personal income tax rate table in 2019. Many people will not calculate the new personal income tax.
How should we calculate the salary of 5000 yuan? Let's tell you the calculation method. This amendment to individual income tax clarifies this problem. It is worth noting that the amount of taxable income in this tax rate table is no longer calculated and levied on a monthly basis, but on a yearly basis.
Besides the 60000 yuan (5000 yuan per month) previously announced, the deduction standard of taxable income also includes the special deduction of "three insurances and one fund" (social insurance premiums such as basic endowment insurance, basic medical insurance, unemployment insurance and housing accumulation fund), as well as the new children's education, continuing education, serious illness medical care, housing loan interest and housing rent Special additional deduction of expenditure.
The new calculation formula of individual income tax: taxable income = monthly income - 5000 yuan (starting point) - special deduction (five insurances and one fund, etc.) - special additional deduction - other deductions determined according to law. Individual income tax payable = monthly taxable income * tax rate - quick deduction. If your salary is 5000 yuan, you don't have to pay personal tax.