Are you one of the pensioners who most often have to pay back taxes? Then you are not alone. Every year, many of the country’s pensioners are forced to pay back taxes after receiving their final tax statement for the previous income year. But don’t forget that something can be done about it.
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Pension from several sources? Consider this
In Sweden, it is not unusual to receive your pension from different payers. The public pension is paid out by the Swedish Pensions Agency as usual, and if you have private pension savings, the payment is made from the bank where you managed the money. But when you have an occupational pension, it is not uncommon for you to have several pension companies that pay out the different parts, if you have not combined them, that is.
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Then you could be hit with a tax blow
It is precisely this that can put a damper on the wheel for many and risk causing back taxes. The reason is that the payer who pays the largest part of the pension deducts tax according to the tax table. Other payers incur a standard tax of 30 percent.
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“A pensioner who is not above the breaking point…”
In an interview with The evening paper tells Pia Blank Thörnroostax lawyer at the Swedish Tax Agency, that the average municipal tax is 32 percent, which means that the standard tax deduction risks causing too little tax to be deducted.
– For a pensioner who is not above the cut-off point and in a municipality where the tax is not very high, 30 percent is probably enough for the side payments. But if you have a substantial pension, and the main payer deducts according to the table and the others only 30 percent, then you will get back taxes, she tells the newspaper.
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Avoid tax hits on your pension
To avoid paying too little tax on your pension, there is a tool you can use, namely applying for tax equalization with the Swedish Tax Agency. If they approve the application, not only does the main payer deduct the correct tax, an additional amount is deducted to minimize the risk of a tax hit.
– You can do the same all year round, so it’s not a problem, says Blank Thörnroos.
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Source: nyheter24.se
