How much tax do you have to pay on savings?
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garrick
Apprentice
Joined: 12 Aug 2005
Posts: 4
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 Posted: 04/29/08 - 09:29 Post subject: |
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| I was working for sometime in a retail shop as a ground floor manager. I have never opened a saving account in my life. I think now is the right time for such thing. Therefore I want to know how much tax you have to pay on savings. I need this information in order to rethink my situation once again. Mirsad Mukac. |
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marlow
Apprentice
Joined: 06 Nov 2005
Posts: 2
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| Posted: 05/28/08 - 23:57 Post subject: |
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| Well Mirsad I have to say that you should definitely open a saving account no matter how high are the taxes. But you should not worry they are not that high. Moreover, there are a lot of savings accounts that the banks are offering you should look all of them because some are tax free but you will earn less, of course. You might be in the category that does not have to pay tax at all. Usually you have to pay tax on earned amount of money if your income is higher than taxable allowance. The omission would be taken if your saving account is in the tax free category. So my advice to you is that you gather all data regarding the savings and choose the right account for you. |
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