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The 2024 tax return contains many changes that will affect both employees and businesses. To help you find your way around, we've summarised the most important news to look out for when filing your tax return.
Spouse discount
It is now necessary for spouses to care for a child under 3 years of age.
The original conditions remain: the spouse must have an income of up to CZK 68,000 and live in the same household.
Discount on school fees
The relief on the cost of placing a child in a pre-school is abolished.
Student discount
Student support in the form of a tax credit is also no longer included in the tax return.
Trade union discount
Trade union allowances can no longer be claimed as a tax credit.
DIP
Another new feature is tax relief for contributions to a long-term investment product.
The terms are similar to those for pension savings: the minimum contract length is 10 years and you can only withdraw the DIP after age 60.
Life, pension and DIP
Newly have a common limit of CZK 48,000.
This means that if you use the 40,000 CZK discount on pension insurance, you can only use 8,000 CZK on life insurance.
More people will fall into the 23% tax band
However, the threshold for claiming the higher rate is shifted to income in excess of CZK 1,582,812 a year, which is equivalent to 36 times the average wage.
More people will now be able to qualify, as it was originally 48 times the average wage.