Income Tax 2024: CDBs, MEI and alimony; g1 answers 10 questions from readers

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New g1 series answers questions sent through the question box on social media. Home stamp income tax 2024 arte/g1 As a service, g1 will answer weekly 10 questions sent by readers about Income Tax 2024. The submission will be carried out via social media, and an expert will bring the answers in a report published on Sundays . This week, Antonio Gil, tax partner at EY, answers what to do if you have never declared, how to declare cash donations and real estate financing. See below which questions will be answered. Does anyone who receives two minimum wages need to declare? My children are 24 and 19 years old. Can I still declare the pension I pay? How to declare compensation received for a traffic accident? How does the refund of the amount withheld from payroll work? How to report a CDB and income in the declaration? How to declare a cash donation for those who donate and those who receive? Do you pay tax? I never declared. How do I know if I owe something or if I should declare it? My wife is hospitalized for addiction treatment, can she be exempt from the declaration? How to launch a real estate loan in the second year of declaration? I’m a MEI, I haven’t received any Tax Invoice in recent years. Do I need to declare? READ MORE Find out everything about Income Tax 2024 See how to file a declaration See who is required to declare See how to download the program See the refund batch calendar Find out who needs to declare Income Tax 2024 1. Those who receive two minimum wages need to declare? Yes. In relation to the base year 2023, the sum of two minimum wages from January to December was higher than the legal limit of R$30,639.90, the amount of taxable income that falls within the mandatory range for submitting a declaration. 2. My children are 24 and 19 years old. Can I still declare the pension I pay? Food expenses can be deducted. However, pension amounts must be exactly related to those agreed in a court decision and/or public deed. ATTENTION: The Federal Supreme Court (STF) decided, in June 2022, that Income Tax should not be levied on amounts received as alimony. As a result, whoever paid IR on this income can receive back the amount for the last five years, according to the Federal Revenue Service. “Whoever in the last 5 years (from 2018 to 2022) submitted a declaration, including this amount as taxable income, can rectify the declaration and make the adjustment”, pointed out the Revenue. To do this, it is necessary to send a rectifying statement referring to the year in which the undue collection or retention was exercised. If the payment was made in more than one year, it is necessary to send a rectification for each of them. 3. How to declare the compensation received for a traffic accident? It depends. In principle, compensation is exempt income, however it is important to understand the nature of the amounts paid as compensation. There are cases in which it may be taxable, such as, for example, insurance paid for temporary inactivity (compensation for loss of profits). 4. How does the refund of the amount withheld from payroll work? The Income Tax refund is exempt income. 5. How do I report a CDB and income in the declaration? The balance of the application must always be declared in “Assets and Rights”, under group 04 (financial applications), Code 02 (CDB). It is important to detail each of the securities purchased by the taxpayer. The income is entered in the “Income Subject to Exclusive Taxation” form, under Type 06 (Income from financial investments), also informing the data of the paying source and the net amount received. ▶️ EXTRA: The Financial Education podcast, from g1, made an episode that teaches the step-by-step declaration for all types of financial applications. LISTEN BELOW. 6. How to declare a cash donation to the donor and the recipient? Do you pay tax? Both must declare, as follows: The donor must enter the Donations form, under code 80 (donations in kind), informing the donee’s details. The donee, in turn, must declare the amount received as “Exempt and non-taxable income” under code 14 (donations). IMPORTANT: Note that, although there is no federal tax on donations, it is possible that state tax may have been incurred on the donation, depending on the amount donated per year and the state. The donation may exceed the annual exemption limit, subject to a state tax called ITCMD (Tax on Transmission Causa Mortis and Donation), the rate of which varies in each state of the country. 7. I never declared. How do I know if I owe something or if I should declare it? You need to check the mandatory criteria and see if your condition fits into any of them. (see the list at the end of the report). On the Revenue website it is also possible to check whether your CPF has pending issues. A new feature this year is accessing Leo, a chatbot from the IRS that will ask you simple questions with YES or NO answers, and at the end will tell you whether or not you need to declare. See here how it works. 8. My wife is hospitalized for addiction treatment, can she be exempt from the declaration? The condition of being hospitalized for medical treatment is not among the possibilities for exemption from submitting the Annual Income Tax Declaration. If it meets the mandatory criteria, you must send the declaration. (see the list at the end of the report) 9. How to launch a real estate loan in the second year of declaration? You must declare in the “Assets and Rights” form the value of the property that has been paid to date, considering from the date of acquisition until 12/31/2022, and then until 12/31/2023. Therefore, it will only be necessary to declare the property in “Assets and rights” according to its situation on 12/31/22 and 12/31/23, without needing to declare the debt separately. 10. I am MEI, I have not received any Tax Invoice in recent years. Do I need to declare? The MEI is, as an individual, subject to the same mandatory conditions as other taxpayers in relation to the Annual Adjustment Declaration. Therefore, the fact that you have not issued tax invoices, in itself, does not mean that you may have had, for example, taxable income, non-taxable income, assets, among other factors that may lead you to have to present the declaration. Who is required to declare Income Tax in 2024 who received taxable income above R$30,639.90 in 2023. The amount is slightly higher than last year’s IR declaration (R$28,559.70) per account the expansion of the exemption range since May last year; taxpayers who received exempt, non-taxable or taxed income exclusively at source, the sum of which exceeded R$200,000 last year; whoever obtained, in any month of 2023, capital gain on the sale of assets or rights, subject to the incidence of tax, or carried out operations on stock, commodity, futures and similar exchanges whose sum was greater than R$40 thousand, or with calculation of net gains subject to tax; those who were exempt from tax on capital gains on the sale of residential properties, followed by the acquisition of another residential property within 180 days; who had, in 2023, gross revenue worth more than R$153,199.50 in rural activity (compared to R$142,798.50 in 2022); who had, until December 31, 2023, possession or ownership of goods or rights, including bare land, with a total value of more than R$800 thousand (compared to R$300 thousand in 2022); who became resident in Brazil in any month and was in this condition until December 31, 2023; whoever chose to declare the assets, rights and obligations held by the controlled entity, directly or indirectly, abroad as if they were held directly by the individual; Has a trust abroad; Want to update assets abroad.

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