Income Tax Ordinance Amendment (Advanced Study Fund for a Farmer Observing Shmita) Bill
Translated from Hebrew: הצעת חוק לתיקון פקודת מס הכנסה (קרן השתלמות לחקלאי שומר שמיטה)
TL;DRA proposal to establish a special track in a study fund for farmers who observe the Shmita (sabbatical year), allowing funds to be deposited with benefits.
Translated from Hebrew
What does the bill do?
The proposal amends the Income Tax Ordinance and the Supervision of Financial Services (Provident Funds) Law, to allow a farmer who observes Shmita (who does not work their land in the Shmita year) to deposit funds in a study fund under special conditions: a shortened holding period (3 years instead of 6), and a tax deduction of up to 7.5% of their income. The proposal gives these farmers the ability to save to finance their needs in the Shmita year, during the six years before the Shmita year.
The votes on this bill
Coalition 62 seats
Left the coalition 14 seats
Opposition 44 seats
Tap an MK for detailsChanged position between readingsOnly MKs who held a seat on the day of the vote are shown