A private bill was introduced on Dec 20th to the knesset. An amendment to the minimum wage law. The proposal is to set the minimum wage at 53% of the average salary, instead of the current 47.5%. This is in lieu of the recent signing of a new salary agreement between the Histadrut klalit (labor …
Tag Archives: Israel
Updated amounts for garnished pay
The max amounts that can be withheld as garnished wages have been updated as of Jan 2011. * single 2,040 shekels * single / divorced / widow + 1 child 3,298 shekels * single / divorced / widow + 2 (or more) children 4,114 shekels * couple 3,059 shekels * couple + 1 child 3,549 …
Updated law – Tax deduction for returning residents
The basis for the update to the law expanding tax credit points to returning residents is Aliyah absorbtion, returning quality human capital to Israel and encouraging investors with potential financial capital to make the State of Israel their center of life, by way of targeting them to make Aliyah and invest in the development of Israel’s Economic Resilience. The main points of the …
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Holiday Pay Directives
Holidays are explicitly defined in the labor laws:2 days Rosh Hashana, Yom Kippur, 2 days Sukkot, 2 days Pesach, Shavuot and Yom Ha’atzmaut. Monthly employees are entitled to payment for the Holidays that occur during the month for which payroll is paid, since their base pay is monthly based (set). Such employees receive their regular …
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 …
New tax brackets for 2011
In 2011, the tax rates (%) remain the same, but the amounts in each bracket have been revised. The new tax rates for 2011 are as follows: monthly gross pay tax rate in % tax up to 5,070 10 507 next 3,590 (up to 8,660) 14 503 next 5,410 (up …
Knowledge for our youth
It’s no secret that knowledge is power. It is also very obvious that when people know what their rights are, they aren’t taken advantage of as much. We emphasis all the time that people should know their rights, but what about our youth ? I am talking about high school kids from grade 10 and …
Night shift work
"Night shift" is specifically defined in the "work and rest hours" labor law (1951): "Any work day of which at least two hours are between 22:00 and 06:00 shall be considered night shift." Note: It is enough that a minimum of two hours of the work day/shift are between these hours for the employee to receive all …
Why you shouldn’t withdraw severance pay
Since the changes in the pension plan programs was implemented in Jan 2008, much confusion still exists. In the past when an employee was fired after a minimum tenure of 1 year, they were paid severance pay by the employer. Some employers had a severance pay fund that they contributed to each month in order to …
Tax update for 2011
The following new changes/ updates will go into effect Jan 1st. 2011: 1. The 101 tax form that all employees and pensioners are required to fill out each year has been updated. The new form now includes details in section D on income from scholarships (which are exempt from income tax but must be declared). 2. Section …