Income Tax: see if retirees or pensioners are required to declare

INSS retirees and pensioners may also have to declare Income Tax (IR). What will define whether or not it is mandatory to settle accounts with the lion will be the taxpayer’s situation and not the fact that he is retired or a pensioner.

According to the Federal Revenue, if the monthly taxable income exceeds the value of R$ 2,380 or the retiree and pensioner has an income above R$ 28,559.70 in the year, he will have to declare the IR.

The specialist in Tax Law and founder of IR Bot Victor Gadelha explains that, if the person has income below this value, but the sum of his assets – savings, investments, house, cars – exceeds R$ 300 thousand by December 31 calendar year, you must also declare income tax.

Gadelha points out that, regardless of whether you are an employee or retired and an INSS pensioner, all the same rules apply.

See the cases in which the income tax declaration is mandatory:

• received taxable income, subject to adjustment in the declaration, whose sum was greater than R$ 28,559.70;
• received exempt income, non-taxable or taxed exclusively at source, the sum of which was greater than R$ 40,000;
• obtained, in any month, a capital gain on the sale of goods or rights to the incidence of the Tax;
• carried out disposal operations on the stock, commodity, futures and similar exchanges whose sum was greater than R$40,000; or with calculation of net gains subject to the levy of tax;
• in relation to rural activity: which obtained gross revenue in excess of BRL 142,798.50 or intends to compensate, in calendar year 2022 or later, losses from previous calendar years or from calendar year 2022 itself;
• had, on December 31, possession or ownership of goods or rights, including bare land, with a total value greater than R$ 300,000;
• became a resident in Brazil in any month and was in that condition on December 31;
• opted for exemption from IR levied on capital gains earned on the sale of residential properties, if the proceeds from the sale are applied to the acquisition of residential properties located in the country, within a period of 180 days, counted from the signing of the sales contract.

However, for INSS beneficiaries over 65 years old, the exemption range increases from R$ 1,903.98 to up to R$ 3,807.96. In this case, the tax rate will not apply to the benefit granted by the INSS.

“But if the retiree receives, in addition to the social security benefit, R$ 1,000.00 in rent, for example, he will have to pay an income tax rate for that income.” That is, the amount received by the INSS is not included in the IR taxation, but the extra income is.

In case of obligation to declare, if the retiree or pensioner does not settle their accounts with the Revenue, Gadelha points out that the CPF is pending regularization. “What can prevent you from taking out loans or creating a bank account, for example”.

In addition, you will have to pay a fine of BRL 165.00 and, depending on the situation, you may have to pay 20% of the tax amount.

The period for delivering the Income Tax is from March 15th to May 31st. Taxpayers who choose to refund the IR via PIX or use the pre-filled statement will receive priority.

* Under the supervision of Ana Carolina Nunes