Tic-Tac, it’s time to declare your income. Like every year, you have a deadline to do it within the allotted time, depending on where you live. 

For departments 01 to 19 (zone 1) and non-residents, you have until May 23, 2024 before midnight. For residents of departments between 20 and 54 (zone 2), you have until May 30, 2024 before midnight. Finally, for departments 55 to 976 (zone 3), you have until June 6, 2024, always before midnight. 

For those who declare on paper, the deadline is shorter. It is set for May 21, before midnight.

A box that concerns 700,000 new retirees

If you retired in 2023, you need to be careful when filing your taxes.  You need to check the line regarding your retirement pay. 

This sum, communicated by your employer to the tax administration, may be added to your income received during the year 2023. The amount of your bonus is then automatically added to your pre-filled declaration. 

You must therefore manually modify your declaration, in order to correct the situation, by indicating the amount of your premium in box 0XX of the supplementary 2042 C declaration. This box concerns 700,000 new retirees, which may entitle them to a reduction on their tax burden. 

The amount of the bonus depends on your seniority in the company. For seniority of between 10 and 15 years, the bonus corresponds to half a month’s salary. For seniority greater than 30 years, it corresponds to two months’ salary.

If you do not check box 0XX, the amount of this bonus will increase your income and therefore your taxes. If you check this box, the amount of the premium will be taxed at 25% of its amount. “This particular tax system prevents the progressiveness of income tax from leading to excessive taxation of exceptional income,” indicates impots.gouv.fr.

Small novelty, this year, retirees over 65 benefit from a tax reduction in order to reduce their tax burden. To be eligible, they must meet two criteria: be over 65 years old during the reference year and have an overall net income of less than 27,670 euros.

The amount of the reduction depends on the overall net taxable income of the taxpayer or tax household. For an overall net income of less than 17,200 euros, the amount is 2,746 euros. For an overall net income of between 17,200 euros and 27,670 euros, the amount amounts to 1,373 euros.

Beyond 27,670 of total net income, there will be no tax relief.