13th month query...

[mazdamazda]

AFAIK - it is tax-free for those getting P30,000 or less as their 13th month.

But Recto has filed a bill before to increase the tax-free coverage from P30,000 to P60,000. Was this bill passed by the House?

Assuming also that the P30,000 threshold is still applicable, will you be taxed for the amount you're getting above P30,000 (e.g. P50,000 is your 13th month pay, only P20,000 is taxable) or for the whole 13th month (e.g. zero tax for P30,000; 2X% tax for P60,000)?

Thanks!

[warp]

AFAIK

(1) still 30K ang tax free.
(2) above 30K ang may tax. in your example, 20K lang ang taxable.

[XTO]

in excess of 30K, yun lang ang taxable dito and hopefully sinusunod ito ng lahat. but those having 14th month and more are not spared from the usual 20% or more tax.

[niky]

Paano yung 15th month ko?

[mazdamazda]

Paano yung 15th month ko?

Amf, nanginggit pa.

:snob:

[XTO]

Paano yung 15th month ko?

eh di walang kawala lalo pa yung hanggang 22nd

[Galactus]

Recto's bill will have minimal impact even if the maximum ceiling is increased. Most companies naman declare an employees 13th month bonus as 30k only, (even if they actually receive more). Parang tax shield kumbaga.

Ang daming nag-aapply sa amin ng salary loan. Yung actual payslip reflects a monthly income of over 30k, pero sa ITR, 30k lang ang naka-declare.

As always, compliance to the law na naman ang problema.

[_Qwerty_]

yung 30K threshold includes all allowances, bonuses, etc. So sa isang taon if that is more than 30K (13th month included), taxable yung excess... Kaya ako pag end of year.. abunado pa sa BIR.

[mhelskie]

badtrip nga ko sa nakuha kong 13th month at health bonus, yung health bonus na nakuha ko kulang pa pangbayad ng tax....arrrggghhh, parang gusto kong magkasakit

[mazdamazda]

yung 30K threshold includes all allowances, bonuses, etc. So sa isang taon if that is more than 30K (13th month included), taxable yung excess... Kaya ako pag end of year.. abunado pa sa BIR.

Or case to case basis ba ito?

Taxable kasi yung bonus ko.

[CVT]

Don't get me wrong here, pero huwag ninyo na lang isipin,- sasama lang ang loob ninyo....

Hindi naman tayo makakaiwas diyan, unless susuportahan tayo ng kumpanya....

4606:rock:

[_Qwerty_]

baka kaya taxable kasi over ka na nga don sa 30T na ceiling.. meron ding ibang companies na lahat nang bonuses eh taxable.. as in lahat nang income kahit bonuses or allowances ay taxable na agad..

Or case to case basis ba ito?

Taxable kasi yung bonus ko.

[mazdamazda]

Don't get me wrong here, pero huwag ninyo na lang isipin,- sasama lang ang loob ninyo....

Hindi naman tayo makakaiwas diyan, unless susuportahan tayo ng kumpanya....

4606:rock:

Not really complaining about the taxes that I pay (heck, I think I pay a heckuva lot more than some supposedly millionaires out there) - as said in the Bible: "Give to Caesar what is Caesar's..." - was just curious if Recto's bill got passed.

[badsekktor]

i never really scrutinized my payslip. hmmm..... matignan nga!

[nicolodeon]

From my experience, the 13th month pay in excess of 30K was and is still is being taxed.

[jazcker]

di ko problema yan... di kasi taxable 13th month ko kasi sobrang liit!

[jjmd3_787]

i never really scrutinized my payslip. hmmm..... matignan nga!

He he he. Pareho tayo bro.

Pano ba kino-compute ang 13th month pay na yan? Any accountants out there? :question:

[_Qwerty_]

Some companies do it monthly.. Basic Monthly Salary less undertime and late divided by 12... that's your earned 13th month pay for the month.. then you just add it every month.

Some dont compute at all.. they just give the full basic pay as 13th month.

[fourtheboys96]

yung in excess of 30K rule ay hindi lamang applicable sa 13th month pay. lahat ng bonus under ng rule na yan. kami sa gobyerno minsan nagugulat pag yung ibang bonus ay may bawas. dahil pag ni-add lahat ng bonus sa isang taon sobra na sa 30K so may tax na.