FGTS birthday withdrawal will be suspended in a few days

Minister of Labor Luis Marinho recently announced that FGTS Board of Trustees should suspend new requests in March birth withdrawal from Length of Service Guarantee Fund.

According to the information provided by Marinho, the new session of the council should be held on the 21st of next month, where the topic will be discussed.

“We have to put an end to this birth format. We are not going to distort the existing contracts,” Marinho said in the interview.

In addition, according to the minister, many of the employees who joined the anniversary claim that in case of dismissal, the values ​​are kept for two years.

FGTS birthday withdrawal

Birthday withdrawals allow workers to withdraw a portion of the balance in their FGTS accounts each year in their birthday month. The mod was launched in April 2020 and already serves more than 21 million employees. About 31 billion rual dollars were provided.

Birthday withdrawal can be done through FGTS channels (website and app). When actually logging into the app, simply select the ‘birthday withdrawal’ option and then ‘birthday withdrawal mode’. Finally, all you have to do is click on “choose birthday withdrawal”.

As for the cost of FGTS birthday withdrawals, it varies according to the total balance in the employee’s accounts. In summary, it is possible to redeem between 5% and 50% of the amount held in the Guarantee Fund. In addition, the employee can receive an additional payment.

As per the rules of the modal, those opting for FGTS birthday withdrawal must withdraw the amount within three months of making the deposit. The period begins on the first working day of the month of the employee’s birthday and ends on the last working day of the following second month.

However, if the owner does not repay the money after the specified period, the money will be returned to the accounts from which they came, that is, they will not be lost. However, it will be possible to withdraw the money again only next year, when the next anniversary withdrawal is published.

Income tax exemption up to 5 thousand

In particular, the Minister of Labor highlighted the possibility of the government correcting the salary table at the end of this year. Income tax, which hasn’t happened in eight years. According to official information, the topic is discussed and evaluated by the economic team.

It is important to note that one of Lula’s biggest promises during the election campaign was to exempt citizens who earn up to R$5,000 a month from income tax.

“President Lula is very responsible. The appointment [de isenção para até R$ 5 mil] it’s real, we believe it can be done. We discuss how to start with small steps. Can we talk about some fixes for this year? Maybe. The economy is working. Will coordinate the process. There’s this space, let’s do it. No, we are going to work on it next year,” Minister Marinho said.

backward IR table

The investment scenario Income tax it is worrying. People with low incomes are forced to pay the tax, considering that the limit of benefits in the tax table is frozen at the amount of 1903 rubles.

This table was last revised in 2015, when the current boundaries were also established. However, at that time the minimum wage was Rs.788. dollars, which forced only those earning more than 2.4 to declare the tax.

Applying this path today, in which the minimum wage is 1320 roubles, the table ends, forcing a taxpayer who receives only 1.5 salaries to declare. See how the IR rate is applied according to the taxpayer’s income.

Who is exempt from income tax in 2023?

In 2023, they will be exempted from income tax declaration.

• Workers and pensioners received less than BRL 28,559.70 in 2022;
• Persons with serious illnesses request an exception by submitting a medical report.
• People with a pension, pension or retirement income of less than BRL 28,559.70.

Illnesses warranting exemption from IR

See the following list.

• AIDS;
• Mental alienation;
• Severe heart disease;
• Blindness (including monocular);
• Radiation pollution;
• Parkinson’s disease;
• Multiple sclerosis;
• ankylosing spondyloarthritis;
• Cystic fibrosis;
• Leprosy;
• Severe liver disease;
• Severe nephropathy;
• malignant neoplasm (cancer);
• Osteitis deformans;
• Irreversible and disabling paralysis;
• Active tuberculosis.

Currently, only those who earn up to R$1903.98 do not need to declare Income Tax. On the other hand, other Brazilians must declare an IR and pay a tax rate that increases as income also increases.