Tax tips and a new calculator
We have added a new feature to our daily allowance calculator. You can now calculate an estimate on the amount of daily allowance for the entire unemployment or lay-off period. You can then use that information when you request a new tax card from the Tax Administration.
Using the calculator is easy. First use the daily allowance calculator to estimate the amount of daily allowance. The calculator makes an estimate for the entire period.
Tips for taxes
Earnings-related daily allowance is taxable income. When we pay you earnings-related daily allowance, we do tax withholding. For tax withholding, we need a tax card which you will easily get from the online service of Tax Administration. It is in fact our common advice that if you become unemployed or are laid off, you should request a new tax card from the Tax Administration.
When you request a new tax card and at the same time give an estimate on the amount of unemployment benefits to the Tax Administration, you will get a tax card the details of which we can use directly. Without information on the benefits, a new tax card id given for salary. If we use that for tax withholding of earnings-related daily allowance, we typically need to increase the withholding percentage. Then you will receive a smaller net amount. If you want the taxation to be as accurate as possible from the start, you should request a new tax card at the beginning of unemployment or lay-off. Use the estimate of our tax calculator on the amount of benefits. Then the taxation will be as accurate as possible from the start.
Name General Unemployment Fund YTK as the recipient of the tax data. That way the data will be transferred directly from the Tax Administration to us. That is the easiest for you.
Check the taxation details before Christmas
It is not uncommon that the income limit of the tax card is exceeded. That in turn will lead momentarily to higher taxation, which may be an unpleasant surprise e.g. during the Christmas holidays. That’s why it is advisable to check the tax and income details during the autumn and request a new tax card if necessary.
If you request a new tax card, name General Unemployment Fund YTK as the recipient of the tax data. That way the data will be transferred directly from the Tax Administration to us. That is the easiest for you.