Taiwanese citizen. Help with taxes, deductions/exemptions

ROC taxes, overseas payment of taxes, withholding rates, general tax liability issues, and other tax-related matters
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Taiwanese citizen. Help with taxes, deductions/exemptions

Postby Tony the Tiger » 20 May 2012, 03:39

Hi all, I am a Taiwanese citizen and this is the first year that I am filing taxes.

I need some help in figuring out all my deductions/exemptions and how much I owe.

According to my research, here are all the deductions and exemptions which I can apply to my personal income:
-Taxpayer exemption: 82,000
-Single taxpayer deduction: 76,000
-Special deduction: Salaries and wages: 104,000
-Savings and investments: 270,000

Is that all? Am I missing anything? I remember reading about deductions for health insurance premiums and labor insurance premiums but I can't seem to find it right now. Note that my school doesn't pay for any of my NHI or labor insurance premiums so I have to pay 100% of both.

What's the 'salaries and wages special deduction'? And what's the 'savings and investments deduction'? I am invested in the stock market, does this apply to me?

And finally, I received dividends from my stock investments. According to my research, dividends are simply added to my personal income?

So if we add up all the aforementioned items then my total deduction comes to 532,000. Or 262,000 without the savings and investments deduction as I'm not sure what that is.
Born in Taiwan. Grew up in California. Graduated from Cal. State Fullerton in 2008. Studied Chinese for 3 semesters at Shi-Da. Decided to live in Taiwan so I joined the Taiwanese army as 替代役.

Full-time poker player, Part-time English teacher.
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Tony the Tiger
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Re: Taiwanese citizen. Help with taxes, deductions/exemptions

Postby dasaint » 20 May 2012, 09:42

Tony the Tiger wrote:Hi all, I am a Taiwanese citizen and this is the first year that I am filing taxes.

I need some help in figuring out all my deductions/exemptions and how much I owe.

According to my research, here are all the deductions and exemptions which I can apply to my personal income:
-Taxpayer exemption: 82,000
-Single taxpayer deduction: 76,000
-Special deduction: Salaries and wages: 104,000
-Savings and investments: 270,000

Is that all? Am I missing anything? I remember reading about deductions for health insurance premiums and labor insurance premiums but I can't seem to find it right now. Note that my school doesn't pay for any of my NHI or labor insurance premiums so I have to pay 100% of both.

What's the 'salaries and wages special deduction'? And what's the 'savings and investments deduction'? I am invested in the stock market, does this apply to me?

And finally, I received dividends from my stock investments. According to my research, dividends are simply added to my personal income?

So if we add up all the aforementioned items then my total deduction comes to 532,000. Or 262,000 without the savings and investments deduction as I'm not sure what that is.


just go to the NTA head office. They will help you figure out how to pay the smallest amount possible. As a citizen, you don't even need to fill up a form. I went there last week and it was all done in 20 minutes. I even had a surprising refund when the only withholding tax taken from me was on my bonus!
I'm back!
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dasaint
Chair-throwing Legislator (rēng yǐzi de lìfǎ wěiyuán)
Chair-throwing Legislator (rēng yǐzi de lìfǎ wěiyuán)
 
Posts: 311
Joined: 17 Nov 2007, 21:52
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Re: Taiwanese citizen. Help with taxes, deductions/exemptions

Postby Tony the Tiger » 20 May 2012, 19:34

dasaint wrote:
Tony the Tiger wrote:Hi all, I am a Taiwanese citizen and this is the first year that I am filing taxes.

I need some help in figuring out all my deductions/exemptions and how much I owe.

According to my research, here are all the deductions and exemptions which I can apply to my personal income:
-Taxpayer exemption: 82,000
-Single taxpayer deduction: 76,000
-Special deduction: Salaries and wages: 104,000
-Savings and investments: 270,000

Is that all? Am I missing anything? I remember reading about deductions for health insurance premiums and labor insurance premiums but I can't seem to find it right now. Note that my school doesn't pay for any of my NHI or labor insurance premiums so I have to pay 100% of both.

What's the 'salaries and wages special deduction'? And what's the 'savings and investments deduction'? I am invested in the stock market, does this apply to me?

And finally, I received dividends from my stock investments. According to my research, dividends are simply added to my personal income?

So if we add up all the aforementioned items then my total deduction comes to 532,000. Or 262,000 without the savings and investments deduction as I'm not sure what that is.


just go to the NTA head office. They will help you figure out how to pay the smallest amount possible. As a citizen, you don't even need to fill up a form. I went there last week and it was all done in 20 minutes. I even had a surprising refund when the only withholding tax taken from me was on my bonus!


The National Tax Administration? I was planning on going to my local district office. Is the NTA faster, easier, more convenient?

Nonetheless, I still want to understand this so I don't go in completely clueless.
Born in Taiwan. Grew up in California. Graduated from Cal. State Fullerton in 2008. Studied Chinese for 3 semesters at Shi-Da. Decided to live in Taiwan so I joined the Taiwanese army as 替代役.

Full-time poker player, Part-time English teacher.
Forumosan avatar
Tony the Tiger
Chair-throwing Legislator (rēng yǐzi de lìfǎ wěiyuán)
Chair-throwing Legislator (rēng yǐzi de lìfǎ wěiyuán)
 
Posts: 311
ORIGINAL POSTER
Joined: 23 Sep 2008, 19:30
Location: Taipei
3 Recognized(s)



Re: Taiwanese citizen. Help with taxes, deductions/exemptions

Postby dasaint » 21 May 2012, 12:49

Tony the Tiger wrote:
dasaint wrote:
Tony the Tiger wrote:Hi all, I am a Taiwanese citizen and this is the first year that I am filing taxes.

I need some help in figuring out all my deductions/exemptions and how much I owe.

According to my research, here are all the deductions and exemptions which I can apply to my personal income:
-Taxpayer exemption: 82,000
-Single taxpayer deduction: 76,000
-Special deduction: Salaries and wages: 104,000
-Savings and investments: 270,000

Is that all? Am I missing anything? I remember reading about deductions for health insurance premiums and labor insurance premiums but I can't seem to find it right now. Note that my school doesn't pay for any of my NHI or labor insurance premiums so I have to pay 100% of both.

What's the 'salaries and wages special deduction'? And what's the 'savings and investments deduction'? I am invested in the stock market, does this apply to me?

And finally, I received dividends from my stock investments. According to my research, dividends are simply added to my personal income?

So if we add up all the aforementioned items then my total deduction comes to 532,000. Or 262,000 without the savings and investments deduction as I'm not sure what that is.


just go to the NTA head office. They will help you figure out how to pay the smallest amount possible. As a citizen, you don't even need to fill up a form. I went there last week and it was all done in 20 minutes. I even had a surprising refund when the only withholding tax taken from me was on my bonus!


The National Tax Administration? I was planning on going to my local district office. Is the NTA faster, easier, more convenient?

Nonetheless, I still want to understand this so I don't go in completely clueless.


your local district would do.
I'm back!
Forumosan avatar
dasaint
Chair-throwing Legislator (rēng yǐzi de lìfǎ wěiyuán)
Chair-throwing Legislator (rēng yǐzi de lìfǎ wěiyuán)
 
Posts: 311
Joined: 17 Nov 2007, 21:52
Location: Taipei
10 Recommends(s)
11 Recognized(s)



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