Prepare yourself! Planning tax deductions for 2024

ค่าลดหย่อนภาษี

Prepare yourself! Planning tax deductions for 2024

Tax deductions refers to various expense items that the law requires income earners to be entitled to deduct from their assessable income. To reduce the burden of paying personal income tax. There are many types of tax deductions to choose from as appropriate for yourself. FDI A&A has collected tax deductions in 2024. For everyone to start tax planning from the beginning of the year. If you're ready, let's get started!

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Tax deduction Personal and family

1. Reduce personal taxes

60,000 baht can be deducted immediately. Can be used as a tax deduction without any conditions.

2. Spouse tax deduction

A deduction of 60,000 baht can be obtained by being a legally registered spouse. and the spouse must not have income

3. Child tax deduction

A deduction of 30,000 baht per person is allowed, provided that they are legal children or adopted children who have already been registered as adopted children. Not more than 20 years old or not more than 25 years old and currently studying. But in the case of a second child or more born from 2018 onwards, there will be a deduction of 60,000 baht per person.

4. Reduce taxes on parents

A deduction of 30,000 baht per person is allowed. Parents must be 60 years of age or older and have annual income not exceeding 30,000 baht. The right cannot be repeated between siblings.

5. Tax deduction for disabled people

A deduction of 60,000 baht per person is allowed. Disabled people must have an income of more than 30,000 baht per year and have a disability card. And the tax deduction must only be the caretaker listed on the disability card.

6. Pregnancy and delivery costs

Deductions can be made based on actual expenses but not more than 60,000 baht, covering both prenatal care costs. Cost of medicine and medical supplies, cost of delivery, and cost of living in a hospital

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Tax deductions for insurance groups

1. General life insurance and savings insurance

Deductions can be made based on actual expenses but not more than 100,000 baht. Life insurance must have a coverage period of 10 years or more. Life insurance must be purchased from a life insurance company in Thailand. And if the policy is surrendered before the end of 10 years, it cannot be used for tax deduction.

2. Own health insurance

Health insurance premiums Including accident insurance premiums that cover health Can be deducted according to actual expenses but not more than 25,000 baht and when combined with general life insurance premiums, must not exceed 100,000 baht.

3. Parents' health insurance

Deductions can be made according to actual expenses. But the total amount does not exceed 15,000 baht. Parents must not be able to spend no more than 30,000 baht per year and can combine the health insurance of the spouse's parents to receive a tax deduction. In the case where the spouse has no income

4. Social Security

Can be deducted according to actual expenses but not more than 9,000 baht.

5. Pension life insurance

Deductions can be made based on actual expenses, but not more than 15% of total annual income. and must not exceed 200,000 baht or must not exceed 300,000 baht if there is no tax deduction with life insurance premiums. And when combined with the investment category for retirement, it must not exceed 500,000 baht.

ค่าลดหย่อนภาษี

Tax deductions for fund groups

1. RMF : Retirement Mutual Fund

Can be deducted not more than 30% of total annual income but not more than 500,000 baht when combined with other retirement funds.

2. SSF : Super Saving Funds

It is a fund to promote long-term savings. Can be deducted not more than 30% of total annual income, but not more than 200,000 baht and not more than 500,000 baht when combined with other retirement funds.

3. National Savings Fund (NSC)

Can be deducted according to the amount actually paid but not more than 30,000 baht but not more than 500,000 baht when combined with other retirement funds.

4. Government Pension Fund (GPF)/Provident Fund (PVD)/Private School Teacher Welfare Fund

Can be deducted not more than 15% of total annual income but not more than 500,000 baht when combined with other retirement funds.

5. Investment in social enterprise business (Social Enterprise)

Social Enterprise Business Investments: For those who invest in stocks or Social Enterprise businesses from 2021 onwards, the investment can be used as a deduction. You can deduct according to what you actually paid. Maximum not more than 100,000 baht

6. Thai Mutual Fund for Sustainability (Thai ESG)

Can be used as a tax deduction of 30% of taxable income. As actually paid Maximum not more than 100,000 baht

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Tax deduction for group donations

1. General donations

Deductions can be made based on actual expenses, but not more than 10% of income after deductions.

2. Donations for education, sports, social development, and government hospitals.

Can be deducted 2 times of the actual donation, but not more than 10% of income after deduction.

3. Political party donations

Can be deducted according to actual expenses but not more than 10,000 baht.

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Tax deductions for government measures

1. Housing interest

For those who buy a house or condo Interest paid to the bank can be used as a tax deduction not exceeding 100,000 baht.

2. Shop Dee Mee Return Project 2567

You can deduct no more than 50,000 baht for the purchase of goods and services within the country. From 1 January - 15 February 2024 as actually paid. By purchasing goods and services in stores where evidence is issued as a receipt/electronic tax invoice. 

ค่าลดหย่อนภาษี

By FDI Accounting & Advisory Provides tax planning services that include tax filing for both individuals and corporations. By experts with experience and knowledge More than 28 years of ability to help manage your taxes easily. Ready to provide knowledge about what corporate tax is to help with tax planning. In order for customers to save maximum costs, reduce stress, and help increase financial stability. You can check and request our advice and services.here No cost!

FDI Accounting & Advisory Total Business Consulting Service, Completely comprehensive all-in-one place!

🩵 Facebook : FDI Group – Business Consulting

💚 Line : @fdigroup

📞 Phone : 02 626 5999

📧 E-mail : infojob@fdi.co.th

🌐Website : www.fdi.co.th

 

 

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