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June 15, 2005 New Relieves in Israel for Returning Residents in Bituach Leumi and Bituach Briut Mamlachti And the Income Tax Ramifications Thereof On June 30, 2005, an amendment to the Bituach Leumi Law goes into effect, shortening the “waiting period” for health insurance of returning residents and greatly reducing the payment required to redeem the waiting period. In addition, the amendment provides relief for returning residents who will travel abroad in connection with their professions. 1. According to the current version of the law, former Israelis residing abroad who did not pay to Bituach Leumi for more than two years would not be entitled to receive Health Fund services upon their return to Israel, except after passage of a "waiting period" (or before but by full pay): The returning resident have to wait two months for each year he did not pay the to Bituach Leumi, up to a maximum of twenty four months. The amendment shortened the maximum waiting period to only 18 months. 2. Until now, the waiting period could be redeemed for an amount of NIS 60 thousand (with the payment being spread out over a 12-month period in advance). The amendment stipulated that the special payment for redeeming the waiting period be reduced to just NIS 10,000, spread out over 6 months in advance. Notwithstanding the above, during the returning resident’s first year in Israel, he/she would not be entitled to fertility treatments and extraordinary health treatments abroad. 3. Previously, if the returning resident chose not to redeem the “waiting period”, he had to spend at least 25 days out of every month of the waiting period in Israel, in order to be entitled to health insurance at the end of the period. The amendment stipulated that if the returning resident’s profession required him to spend less than 25 days out of every month of the waiting period in Israel (for example, work in a hi-tech company that requires a lot of travel), he would still be entitled to receive health insurance at the end of the waiting period. Israeli minors residing abroad are entitled to health insurance immediately upon their return to Israel, without having to wait for any period of time or make any redemption payment. Prior to the amendment, Israelis residing abroad were faced with a dilemma when it came to making Bituach Leumi Payments. On the one hand, by continuing their payments, Israelis residing abroad were guaranteeing their right to health insurance upon return to Israel, without having to wait out a waiting period. However, the Israeli Income Tax Authorities often use the fact that Israelis residing abroad continue to pay Bituach Leumi during the first year of relocation abroad as a test of Israeli residency for income tax purposes. By continuing such payments, Israelis residing abroad also faced the possibility of having the Israeli income tax authorities - tax them as Israeli residents. The abovementioned relieves with the waiting period, has softened the sanction placed on returning residents who didn't pay to Bituach Leumi. Under appropriate circumstances, it is now possible for Israeli residing abroad to forego the health coverage of the Bituach Leumi, thereby reducing the danger of Israeli taxation on their foreign income. Upon returning to Israel, they can redeem the waiting period with a series of six monthly payments in advance, or perhaps, upon their return to Israel, they can take out private health insurance with the various Health Funds (e.g., until the end of their waiting period). Each case has to be judged on its own merits and every individual Israeli has to decide based on his own circumstances. In any event, I would advise returning residents not to fill out any forms or take any steps in connection with the tax and Bituach Leumi authorities without consulting a qualified tax professional, in order to avoid tax and traps regarding which private individuals may not even be aware. Ishay Etsion C.P.A. (Isr) [email protected]
June 15, 2005 New Relieves in Israel for Returning Residents in Bituach Leumi and Bituach Briut Mamlachti And the Income Tax Ramifications Thereof On June 30, 2005, an amendment to the Bituach Leumi Law goes into effect, shortening the “waiting period” for health insurance of returning residents and greatly reducing the payment required to redeem the waiting period. In addition, the amendment provides relief for returning residents who will travel abroad in connection with their professions. 1. According to the current version of the law, former Israelis residing abroad who did not pay to Bituach Leumi for more than two years would not be entitled to receive Health Fund services upon their return to Israel, except after passage of a "waiting period" (or before but by full pay): The returning resident have to wait two months for each year he did not pay the to Bituach Leumi, up to a maximum of twenty four months. The amendment shortened the maximum waiting period to only 18 months. 2. Until now, the waiting period could be redeemed for an amount of NIS 60 thousand (with the payment being spread out over a 12-month period in advance). The amendment stipulated that the special payment for redeeming the waiting period be reduced to just NIS 10,000, spread out over 6 months in advance. Notwithstanding the above, during the returning resident’s first year in Israel, he/she would not be entitled to fertility treatments and extraordinary health treatments abroad. 3. Previously, if the returning resident chose not to redeem the “waiting period”, he had to spend at least 25 days out of every month of the waiting period in Israel, in order to be entitled to health insurance at the end of the period. The amendment stipulated that if the returning resident’s profession required him to spend less than 25 days out of every month of the waiting period in Israel (for example, work in a hi-tech company that requires a lot of travel), he would still be entitled to receive health insurance at the end of the waiting period. Israeli minors residing abroad are entitled to health insurance immediately upon their return to Israel, without having to wait for any period of time or make any redemption payment. Prior to the amendment, Israelis residing abroad were faced with a dilemma when it came to making Bituach Leumi Payments. On the one hand, by continuing their payments, Israelis residing abroad were guaranteeing their right to health insurance upon return to Israel, without having to wait out a waiting period. However, the Israeli Income Tax Authorities often use the fact that Israelis residing abroad continue to pay Bituach Leumi during the first year of relocation abroad as a test of Israeli residency for income tax purposes. By continuing such payments, Israelis residing abroad also faced the possibility of having the Israeli income tax authorities - tax them as Israeli residents. The abovementioned relieves with the waiting period, has softened the sanction placed on returning residents who didn't pay to Bituach Leumi. Under appropriate circumstances, it is now possible for Israeli residing abroad to forego the health coverage of the Bituach Leumi, thereby reducing the danger of Israeli taxation on their foreign income. Upon returning to Israel, they can redeem the waiting period with a series of six monthly payments in advance, or perhaps, upon their return to Israel, they can take out private health insurance with the various Health Funds (e.g., until the end of their waiting period). Each case has to be judged on its own merits and every individual Israeli has to decide based on his own circumstances. In any event, I would advise returning residents not to fill out any forms or take any steps in connection with the tax and Bituach Leumi authorities without consulting a qualified tax professional, in order to avoid tax and traps regarding which private individuals may not even be aware. Ishay Etsion C.P.A. (Isr) [email protected]
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