IR 2023: do retirees have to declare income tax?

If your only source of income is from INSS, you need to file the return if the amount exceeded in 2022 BRL 28,559.70

Many people doubt that the retired is required to submit a declaration of Income tax 2023. By itself, retiree or retiree status does not define whether you need to settle accounts with Brazil’s Federal Revenue Agency. Everything will depend on the total income of the individual in question.

If your only source of income comes from the National Social Security Institute (INSS), you need to file the return if the amount exceeds the BRL 28,559.70 in 2022. However, there are other conditions that can lead to the declaration, such as the sum with other income.

A very common case is that of those who receive rent. In this case, the amount received must be added to that of the pension or retirement. If the amount exceeds R $ 28,559.70, it will be necessary to report to the Revenue Agency.

Another condition that leads a pensioner to declare the Income tax 2023 it is the accumulation of goods. Those who have assets greater than BRL 300 thousand. In this case, the sum is given with assets such as a balance in a savings account, financial investments, real estate and vehicles, for example.

It is worth mentioning that pensioners or retirees must download their tax return on the INSS website. With all the paperwork organized, it will be easier to understand if it will be necessary to make the Income Tax Return in 2023.

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Who has to declare income tax in 2023?

• The taxpayer who received taxable income exceeding the limit (28,559.70 reais) in 2022;
• The taxpayer who received exempt, non-taxable or source-taxed income above the limit (R$ 40,000.00);
• The taxpayer who had possession or ownership, as of December 31, 2022, of assets or rights, including bare land, above the limit (R $ 300,000.00);
• Anyone who has obtained, in any month of 2022, a capital gain on the sale of assets or rights, subject to tax levy, or has carried out transactions on stock exchanges, commodities, futures and the like the sum of which exceeds BRL 40,000.00, or by calculation of the net capital gains subject to tax;
• The taxpayer who has obtained a capital gain from the sale of goods or rights, subject to the collection of the tax;
• The taxpayer who has opted for capital gains tax exemption on the sale of residential property, followed by the acquisition of another, within the 180-day period;
• Anyone who became a resident of Brazil, in any month, and was in this condition as of December 31, 2022;
• The taxpayer who obtained gross annual income from rural activity for an amount exceeding the limit (R $ 142,798.50);
• Anyone who intends to compensate the losses deriving from rural activity in this or previous years, with the income of this or subsequent years.

Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.