Call Us: +972-73-2554000 - Mail info@Brooks- keret.co.il

Additional Tax Credits Points for Parents starting in 2017

 

On May 28, 2017, the Israeli Tax Authority published a notice regarding the Income Tax Law (Increase of Credit Points for Parents) (hereinafter: “the Notice”).

According to the Notice, tax credit points for fathers and mothers for their children up to the age of five were increased in years 2017 – 2018 only.

At the year of birth – 1.5 credits points, between the ages of one and five (a child under the age of six) – 2.5 credits points.

In addition, in the notice, A woman who gave birth in one of the two tax years (2017 or 2018) is given the option to transfer one credit point (out of 1.5 credit points due to her) from the year of birth to the following year.

Please note that there is no change in the number of credits for children aged 6 and over.

The notice shall apply retroactively from January 1, 2017.

Link to the notice (Hebrew) : https://taxes.gov.il/incometax/documents/hanhayotmaasikim/maasikim_280517_acc.pdf

About Michal