Working income tax benefit Working income tax benefit The working income tax benefit (WITB) is a refundable tax credit in Canada, similar to the Earned Income Tax Credit (EITC) in the United States. Introduced in 2007, it offers tax relief to working low-income individuals and encourages others to enter the workforce. The WITB has been expanded considerably since its introduction. To be eligible for the WITB, the applicant or their spouse must be a Canadian resident for income tax purposes of at least 19 years of age as of December 31, and cannot be a full-time student. The WITB can be claimed on line
Income tax in the Netherlands substantial interest, even if they do not amount to 5%. Income from substantial interest includes: For 2007 only there was a reduced rate ranging from 22 to 25%. See also . There is a flat tax on the total value of the savings and investments of 1.2% per year. It is nominally part of the income tax, as a 30% tax on a fixed assumed yield of 4% of the value of the assets (this is regardless of the actual income from the assets). EUR 21,139 (2012; higher for 65+ with a low income) of the value of the assets