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As every year, taxpayers can access an online simulator to calculate their income tax. It is Bercy that makes this tool available to them. Indeed, this tool is useful for estimating the amount of tax to be paid.

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Income tax: An online simulator already available

It is in a month that the 2023 income tax declaration campaign opens. The opportunity for each taxpayer to declare the income they have received during the year 2022. Knowing the amount of income tax that we are going to have to pay can generate stress and impatience.

For those residing in France, they can already use the online simulator of the Directorate General of Public Finances (DGFiP). Thanks to this simulator, they can calculate their tax bill for the past year today.

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Two options for calculating your tax

In practice, they have the choice between two options. They can resort to what Bercy calls the « simplified model ». This template is for taxpayers reporting:

• Salaries (except income of partners and managers)
• pensions or pensions
• Property income
• Gains from the sale of securities
• Corporate rights and similar titles

It is also aimed, according to the tax administration, at taxpayers who reduce the most common charges. Namely alimony, childcare costs, donations to charities and others. The second option is aimed specifically at households that declare :

• Income from commercial, liberal, agricultural activity
• Income from partners and managers
• Investments in the DOM-COM and others

Bercy names this second option « complete model ». She is accessible on the same page.

An indicative amount

Do you have low income? Do you want to know if you are going to be taxable on your income collected in 2022 ? You will have the answer by using this simulator. However, it should be noted that what the tool displays does not constitute validation by the tax authorities. Never !

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Indeed, Bercy warns that the amount mentioned is not « only for information ». Reason why, the use of the DGFiP tool does not exempt you from completing your declaration in the coming weeks. Know that you can use this simulator as many times as you want.

Know about income tax

Here is a short glossary on income tax:

Reference tax income

Tax Administration takes into account the reference tax income for the allocation of certain social aid (college scholarships, etc.). Or tax exemption (property tax, etc.). The RFR is often higher than the net taxable income. It stems from a calculation that the tax services carry out on the basis of all the income of a tax household.

Overall gross income

This is the aggregate of all your earnings over the calendar year. Namely salary, pension, benefits, income from real estate and miscellaneous investments… Deductions apply to this sum. For example, from 10% for professional expenses on wages and retirement pensions.

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Overall net income and net taxable income

This is the overall gross income from which your deductible expenses are deducted. Net taxable income is derived from overall net income from which the special allowances to which you are entitled are deducted. This is the one on which your tax is calculated.

The income tax schedule

The scale used to calculate income tax is progressive. It is made of 5 income brackets:

• 1st tranche: up to 10,777 euros for 0.00% tax rate
• 2nd bracket: from 10,778 euros to 27,478 euros for 11.00% tax rate
• 3rd bracket: from 27,479 to 78,570 euros for 30.00% tax rate
• 4th bracket: from 78,571 euros to 168,994 euros for 41.00% tax rate
• 5th bracket: more than 168,994 euros for 45.00% tax rate

The tax threshold according to the profile

To calculate income tax, the family quotient must be taken into consideration. The latter depends on the situation of the declarant and the composition of the tax household. The family quotient is expressed in number of shares.

Take as an example the case of a couple with two children (3 shares) with a net taxable income of 60,000 euros. The family quotient is therefore 20,000 euros (60 000 euros : 3 parts).

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Here is how the calculation is done:

Up to €10,777: 0 %

From 10,778 euros to 20,000 euros: (20,000 euros – 10,777 euros) x 11% = 9,223 euros x 11% = 1 014,53 euros .

Gross tax for the coupleis therefore: 1,014.53 euros x 3 shares = 3,043.59 euros. That is an average tax of: 3,043.59/60,000 euros = 5.07%. Its MTR (marginal tax rate) is 11%.

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Source : Capital