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Finance, TaxSeptember 23rd, 2010
The was family tax credit works is actually almost similiar as child tax credit. This tax credit is usually subjected to families who have children dependant under 18 years old, or 19 years old children who are still in full-time education. It means if you do not have children, or you do but they are more than 19 years old, you cannot apply for this payment. So, before you apply, you have to check the age of your kids, because it really matters.
To be able to know how much that you can receive, if your family is qualified for family tax credit, you definitely have to know the total of the annual income of your family before it is deducted by the tax. There are certain formulas that can calculate the amount of the tax credit. It also depends on the number of your children, which means the more you are responsible for kids in your care, the more amount of money that you will receive. However, based on the general regulation of the tax credit, there are certain things that you have to notice, you absolutely cannot receive family tax if in the same time you receive foster care allowance, orphan’s benefit, or parent’s allowance.
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The Indonesian tax system is well organized by the law. In Indonesia, the taxations are including the income tax, local tax, and also central government tax. With a high rate of population, Indonesian income tax gives a lot of benefit for the development of the country. Indonesian income tax comes from people income from work salaries; their earnings for selling stocks, or earning from rented some properties. The income tax will give a big support for the development of the country because the income tax gives a lot of contribution for the country. Indonesian tax system will be regulations in tax’s payment.
Another Indonesian tax system is the self assessment system. This system make the people have to pay their tax and managed it by themselves. The self assessment make the people have to do their duty to pay tax to be more active to pay their own tax. This is a good condition for people to learn well and to know directly the purpose of their tax. They can learn the use of the tax by the government. And they also can monitor the tax if there is something strange about the process itself. Because of the place and the different social orientation, the self assessment tax system can only applied well in some places. But almost all of Indonesian tax system has the benefits in particular ways.
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