The effects of the war linger on. Starting this year, IDF reservists may receive a tax break. Also, there is a proposal to revive a 1.5% wealth tax on land that was dormant since 2000.
The Knesset passed an amendment in November that increases the personal tax allowances of IDF reservists by NIS 1,452 to NIS 11,616 per year (Income Tax Amendment 283, Section 39B).
In Israel, residents receive tax “credit points” that reduce their tax bill by a fixed amount, regardless of the level of their income. This is more egalitarian than standard or itemized deductions (or personal allowances) from income.
A man generally receives 2.25 credit points.
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