For salaried employees, tax deductions are an important matter that should not be overlooked because in addition to helping you save on taxes, it is also a way to save money for the future. One of the popular ways to deduct taxes is by investing in various funds. Today we will get to know…Tax deductible fundsThat’s interesting.
1. Retirement Mutual Fund (RMF)
RMF is a tax-deductible fund suitable for long-term savings for retirement. Investors can deduct up to 30% of their income from their investments, but not exceeding 500,000 baht per year, on the condition that they must invest continuously for at least 5 years and hold until they are 55 years old to receive full tax benefits.
2. National Savings Fund (NSF)
The Government Savings Bank is a tax-deductible fund established by the government to promote savings among the people, especially those who are not in the pension system. Investors can deduct their savings from their taxes based on the actual amount paid, but not exceeding 30,000 baht per year. They also receive a contribution from the government.
3. Long-term equity funds (LTF)
Although LTFs have ended their tax benefits since 2020, those who invested before will still receive tax benefits if they hold for 7 calendar years. They can deduct their investment from their taxes up to 15% of their income, but not more than 500,000 baht per year. This is another tax-deductible fund that is worthwhile.
4. Pension insurance
In addition to receiving life insurance coverage, pension insurance also helps reduce taxes. You can deduct insurance premiums up to 15% of your income, but not more than 200,000 baht per year. When combined with the provident fund or Government Pension Fund, it must not exceed 500,000 baht.
5. Provident fund
For employees of companies with provident funds, they can deduct the savings paid into the fund from their taxes as actually paid, but not exceeding 15% of their salary. When combined with savings in RMF and pension insurance, it must not exceed 500,000 baht.
6. Government Pension Fund (GPF)
It is a tax-deductible fund for government officials. The savings paid into the GPF can be deducted from taxes according to the actual amount paid, with the same conditions as the Provident Fund.
When choosing to invest in tax-deductible funds, in addition to considering tax benefits, other factors should also be taken into account, such as acceptable risk, investment period, and financial goals. In addition, you should study the information and conditions of each fund carefully before deciding to invest.
For salaried employees who want to plan their finances effectively, investing in tax-deductible funds is an interesting option. In addition to saving taxes, it also creates discipline in saving and investing in the long term. However, you should consider carefully and choose investments that are appropriate for your financial status and goals in order to gain the most benefit in terms of tax deductions and creating financial security in the future.
Source: www.innnews.co.th
