Bankfin

26/04/2020

Quick Q&A based on some of the questions raised to our office on Round #2 grants to Atzamyim-NB Guidance, interpretations and clarity from the relevant authorities and institutions still forthcoming…….

• How much is the grand-round #2?
70% of average taxable income to a maximum of ILS 10 500

• How much must average a reduction in TURNOVER to qualify?
25% reduction in turnover-sales

• Reduction in turnover compared to when?
Calculate average turnover March to June 2019 or 2018

• Is grant round #2 related to the first round of claim that was available from April 2020?
No-Round #1 grant can still be claimed and is independent of this round and can be claimed up to 10.6.2020

• How does it get paid?
Direct to your bank account

• How to apply, when and until when?
Starting 3 May 2020 and available for 70 days. Apply same way as grant #1

• Many in in Round #1 were disqualified from claiming due to the higher income of their spouse
Contrary to the first round, there appear to be less strict criteria and those who never claimed in round 1 due to high level income of spouse may be entitled to claim in round #2

• What is the grant of ILS 400 000 being thrown around?
This a is completely separated and unrelated grant for qualifying businesses to cover fixed costs. This grant should not be confused with the grant to atzmayim.

• Are there other limitation or “buts” in the calculation?

The amount of the grant is generally calculated according to
70% of the taxable income of an average month in 2018, but not more than ILS 10,500. But the calculation formula includes a graded reduction in the amount of the grant to those whose annual income exceeds ILS 480,000 (an average ofILS the grant for every additional shekel in income. In this way, the grant gradually decreases as income climbs over ILS 40,000 a month, until it drops to ILS3,000 for self-employed persons with the maximum income earning the grant (NIS million a year). Above this level of income, the self-employed is not eligible for a grant - but may be eligible for the special "participation in fixed expenses,"

Wishing everyone good health and financial stability

24/05/2019

Thrilled to announce a partnership with Hurwitz Attorneys.

As part of providing a one stop shop for all legal and financial hurdles around emigration, this strategic partnership is best placed to assist you where it counts most.

18/04/2019

A new dimension to Bankfin.

Bankfin and Remax Netanya have entered into a an exclusive and strategic relationship for the SA market.

Look out in SA Jewish Report

Your Dream Home is Here in Netanya Contact Us Remax Netanya & Bankfin Your One Stop Shop Remax is recognised as the largest estate agency in Israel, providing the buyer with the most diverse portfolio of properties to suite his specific investment spec. No one else in the market is able to compare t...

08/04/2019

Very Excited to welcome Vanessa Kotze (H-Dip tax-SA) to the team. Vanessa is over 20 years experience in SA tax compliance and advisory with particular focus on SA emigrants, financial emigration, tax clearances and SA Reserve bank compliance. We have been hard at work with exploring the SA-Israel DTA and tax structures for SA-Israel Aliya.

We are well placed to provide advisory services to:

1) SA potential olim
2) South African in the process of making aliya
3) SA olim that have not wrapped up SA tax affairs
4) Olim maxising Oleh 10 year exemption
5) Preparation for post 10 year exemption
6) SA buyers of property in Israel

03/04/2019

After months of planning, thrilled to launch Bankfin Financial Services.

It is a culmination of obtaining a CA (SA) designation with a decade of accounting and commercial experience in SA and mirroring it in Israel with a CPA (IL) qualification and local experience, that has presented the opportunity to launch our new office in Poleg Netanya.

It is a privilege and gives so much joy in fulfilment of an ongoing Zionist dream to be part of such a robust and dynamic economy. It is also most special to be part of my clients success doing great things in Israel and beyond.

There are exciting developments in the pipeline and look forward to sharing