2023-11-13 08:15:09
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Do you want to minimize the amount of your income tax in 2024? Thanks to the PER, it is possible to reduce your taxable income by more than 35,000 euros… provided you do it before the end of the year.
Anticipate: this is the solution to reduce the amount to be paid to the tax administration each year under the
‘income tax
. In fact, the taxes due in 2024 will be calculated for the year 2023. The taxpayers concerned therefore have less than two months to seize the opportunity to reduce taxes. With a Retirement Savings Plan (PER), in particular, it is possible to reduce your taxable income by a maximum of 35,194 euros. Focus on how this contract works, which allows you to prepare for retirement while saving tax.
A deductibility ceiling of up to 35,194 euros per year
The PER, or Retirement Savings Plan, is a product whose purpose is to encourage savers to put money aside for their retirement. Succeeding from various retirement savings contracts, such as the PERP, Madelin, Article 83 or Préfon, the PER offers a major advantage in achieving its objective: voluntary payments can be deducted from income taxable income of the household, within certain limits.
At most, it is possible to deduct up to 35,194 euros per year for the year 2023. This ceiling, however, varies depending on taxpayers’ income, since it corresponds to 10% of taxable annual income. For example, a taxpayer declaring 50,000 euros of income to the tax administration can pay into their PER, and deduct from their taxable income, up to 5,000 euros per year.
Even better
: when the annual ceiling is not used, it is carried over for 3 years. To find out your personalized ceiling, simply consult your latest tax notice, in the “retirement savings ceiling” section.
Also read: Taxes: is the PER the ally you need to reduce your taxes?
Who are the savers who have an interest in making payments into a PER?
To benefit from the tax reduction induced by a PER, you must first of all be taxable. In fact, voluntary payments are deducted from taxable income, and therefore allow you to have less income tax to pay. The calculation of this saving nevertheless depends on the maximum tax rate paid by the household. For example, a deductible payment of 5,000 euros saves 1,500 euros in income tax for a person in the 30% bracket, compared to 2,250 euros at 45%.
The tax advantage of the PER can therefore seem very attractive. However, we must not forget that this retirement savings product is restrictive: the amounts deposited are, in principle, blocked until the saver retires. Only certain cases of early release, for example the purchase of your main residence or the end of unemployment rights, allow you to recover your money before this more or less distant deadline.
Furthermore, the payments deducted through retirement savings are reintegrated into the household’s income when they are recovered. The tax saving actually achieved therefore depends on the difference between the household’s maximum tax rate at the time of tax exemption, and the tax rate at retirement, which, in principle, is lower than at the time of the tax exemption. active life of household members.
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