Additional tax changes in 2011

 Tax credits

value of tax credit point                                209 shekels

qualifying income ceiling for section 45 alef   8,200 shekels

25% credit ceiling                                        143.50 shekels

35% credit ceiling                                         200.90 shekels

minimum annual donation (charity)                  310  shekels

   Tax deductions

qualifying income ceiling for section 47            8,200 shekels

5% ceiling – savings for section 47                     410 shekels

 Tax exemptions

pension credit ceiling (for pensioners)               7,990 shekels

35% tax exemption ceiling for pension           2,796.50 shekels

exempt severance pay ceiling (per year worked) 11,650 sh.

exempt personal presents                                   200 shekels

exempt subsistence allowance for foreign
workers (per day)                                                310 shekels

exempt ceiling for blinddisabled                     48,300 shekels 

ceiling loan balance                                        7,320 shekels

percent of interest according to section 3 tet       4.00% 

base ceiling for exemption on employer’s allocation
towards keren hishtalmut                                        15,712 sh

base ceiling for exemption on employer’s allocation
towards kupat gemel for pension                             33,228 sh

exempt subsistence per year of work                            112 sh

Tax discounts

A rated settlements     *                                  18,970 shekels

B rated settlements     *                                   12,640 shekels

Miscellaneous

maximum tax rate for partialqadditional income        45%

maximum tax value for cell phone usage               100 shekels

* For a full list of the approved settlements for 2011 consult the tax authorities.

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