Wages are personal income and should be subject to personal income tax. However, the starting point of personal income tax on wages is 5000 yuan, so there is no need to pay personal income tax on the salary of 5000 yuan after retirement.
The comprehensive income of individual residents shall be the taxable income after deducting expenses of 60,000 yuan from the income in each tax year and the balance after special deduction, special additional deduction and other deductions determined according to law. For the income from wages and salaries of non-resident individuals, the taxable income shall be the balance after deducting expenses of 5,000 yuan from the monthly income. Income from remuneration for labor services, remuneration for manuscripts and royalties shall be taxable.
For operating income, the taxable income is the balance after deducting costs, expenses and losses from the total income in each tax year. If the income from property leasing does not exceed 4,000 yuan each time, the expenses will be reduced by 800 yuan. If it is more than 4,000 yuan, 20% of the expenses shall be deducted, and the balance shall be taxable income. Income from the transfer of property shall be the taxable income after deducting the original value of the property and reasonable expenses from the income from the transfer of property. Interest, dividends, bonus income and accidental income shall be taxable income.
Income from remuneration for labor services, remuneration for manuscripts and royalties shall be the balance of income after deducting 20% of expenses. The amount of income from remuneration shall be reduced by 70%. Individuals donate their income to public welfare charities such as education, poverty alleviation and poverty alleviation, and the part of the donation that does not exceed 30% of the taxable income declared by taxpayers can be deducted from their taxable income. If the State Council stipulates that donations to charitable causes shall be deducted in full before tax, such provisions shall prevail.
You don't have to pay taxes if your pension exceeds 5000. Under normal circumstances, personal income tax includes:
First, retirees are rehired to continue their work after retirement. At this time, the salary they get belongs to labor income. If the monthly salary exceeds 5,000 yuan, they will have to pay personal income tax.
Second, the remuneration income is still writing on some platforms after retirement, and the remuneration earned here is also subject to personal income tax.
Third, the interest earned from stock trading, wealth management and deposit is subject to tax.
Fourth, the money earned from renting and buying a house should be declared, and then personal income tax should be paid.
Fifth, personal income tax is required for the property obtained by winning the prize, inheriting and donating.
However, the pension does not belong to the income from labor remuneration, and according to the Income Tax Law of the People's Republic of China, it is clearly pointed out that the settling-in allowance, resignation fee, basic pension or retirement fee, retirement fee and retirement living allowance paid to cadres and workers by the state are exempt from personal income tax. Because no matter how much personal income tax is levied, it actually has no effect on retirees. Therefore, there is no need to pay taxes and fees for pensions exceeding 5,000 yuan.
I hope the above contents can help you. If you have any questions, please consult a professional lawyer.
Legal basis:
Article 6 of the Individual Income Tax Law
Calculation of taxable income:
(1) For the comprehensive income of individual residents, the taxable income shall be the balance after deducting expenses of 60,000 yuan from the income in each tax year and special deductions, special additional deductions and other deductions determined according to law.
(2) For the income from wages and salaries of non-resident individuals, the taxable income shall be the balance after deducting expenses of 5,000 yuan from the monthly income; Income from remuneration for labor services, remuneration for manuscripts and royalties shall be taxable.
(3) For operating income, the taxable income shall be the balance after deducting costs, expenses and losses from the total income in each tax year.
(4) If the income from property leasing does not exceed 4,000 yuan each time, the expenses shall be reduced by 800 yuan; If it is more than 4,000 yuan, 20% of the expenses shall be deducted, and the balance shall be taxable income.