Here is a tool that allows you to estimate the amount owed to the tax authorities

Two and a half months separate us from the date of the next tax declaration (scheduled for April). If for the government, this date represents a smooth administrative process, for some, it is synonymous with a lot of stress and confusion. So the government thought of installing two simulators which are able to estimate the tax amount of taxpayers in just a few clicks.

How the simulator works

The first simulator is a “simple model” that allows you to declare income from salary, pension or retirement as well as real estate, social rights or similar securities. Thus, the simulator takes into account deductions associated with current expenses, such as alimony, child care expenses, and donations to charity.

As for the second simulation tool, called “Full Model”, it allows you to declare different types of income such as ” Commercial, liberal, agricultural activity, income of partners and managers, investment in French overseas territories, overall deficit », we can read on the website of the public service.

With this simulator, filling the form takes only 10 minutes, if you know the amount of salary, pension or movable assets. On the other hand, you should know that this form present on the simulator is a little more complicated than the original. So you have to take your time to fill it. But the good news is that the General Directorate of Public Finance will not harbor any mistakes.

What is the new 2024 Income Tax Scale?

2024 scale will be indexed at 4.8%. For income up to 11,294 euros, the applicable rate is 0%. For those changing from 11,295 to 28,797 euros, this rate increases to 11%. Between 28,798 and 82,341 euros, it rises further to 30%. From 82,342 to 177,106 euros, the rate is 41%. Above 177,106 euros, it goes up to 45%. This tax system works in a “progressive” manner. This means that no taxpayer has to suffer a 45% tax rate on their entire income. Each income segment is subject to a specific rate.

And to best represent the original tax returns that taxpayers must submit to tax institutions in April, simulators set up by the government take this new scale into account. So it is possible to predict how much we will have to pay in April 2024.