Due to the new tax brackets effective Jan 2009’s payroll, all salaried employees will recieve an increase in their net pay. The following table shows the approximate increase based upon the gross pay. The pay increase is also incumberent on other info and may vary from employee to employee. This table is a general overview and not to be taken for granted. Most employees will recieve an increase in net pay.
Due to the world-wide financial crises, many employers have asked their workers to not only freeze pay raises, but to actually take a pay cut from 5% – 12.5% which actually nullifies the net increase and those employees will receive lower net pay than their Dec 2008 pay.
The following information pertains to a single male individual with no other tax benifits.
The net addition can vary based on sex, age, no. of children, marital status, oleh status and other personal tax benefits as well as gross pay. This table is for general information and by no means binding.
GROSS PAY |
NET ADDITION |
4,500 | 20 |
8,000 | 122 |
10,000 | 188 |
15,000 | 377 |
20,000 | 533 |
35,000 | 755 |
50,000 | 995 |
Moshe Egel-Tal, CSPP
Founder and CEO, Israpay "making payroll simple"
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