I remember vividly an old priceless"Wizard of Id" comic from way back:
The first frame showed a horse rider, sent by the king, galloping into town yelling "Hear all". When the townspeople gathered around he anounced "I was sent to rid the land from wretched infidels. In order to pay for the expense I hereby levy a new tax, effective immediately. Any questions ?"
A guy in the back of the crowd raises his hand and says "Just one, where do we join up with those wretched infidels?"
While there are no new taxes (yet) in 2011, there are several tax benefits that should raise most employees’ net pay.
The tax brackets remain the same, however the amounts of the brackets have changed, thus widening the actual brackets.
In addition, the worth of each tax credit point was raised from 205 shekels to 209 shekels.
Also, the public transportation rates went up, so those should be adjusted accordingly, as well.
so, while it isn’t very significant, most employees (especially the employees in the lower tax brackets) should receive a raise in their net pay, starting in Jan 2011.
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Moshe Egel-Tal, CSPP
Founder and CEO, Israpay "making payroll simple"
Site: http://www.israpay.com
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