Global Tax Regimes

In the Global version of the software you can create a Tax Regime with a specific currency and Tax brackets.

Once set up you can edit this in the plan in Dashboard - Tax Regime

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Tax Brackets and how they work

If you enter the following

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This means Income up to $10,000 is taxed at 0% and income above $10,000 is  taxed at 15%.

Go to Year View - Taxes tab to see the details

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If the above is entered with $100,000 income as an example you will see:

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If you instead enter this as the Tax Regime

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It is the same thing as above i.e. This means Income up to $10,000 is taxed at 0% and income above $10,000 is taxed at 15%. However it is now shown explicitly in Year View as below:

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To have multiple thresholds add them in order, for example below

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Means up to $10,000 is 0% tax,

between $50,000 and $10,000 is 15% and

above $50,000 is 20% as shown below

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With Dividends, Interest and Capital Gains you have the option of using the Income Tax Rates set as above by using the slider

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Or by setting the tax rates on these types specifically:

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Finally, the threshold Escalation is how the Tax Brackets increase over time. The Tax Brackets change with this percentage not the Tax rates

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See this in Year View - Taxes tab - Tax Summary. For example with a Threshold Escalation in place in year 1 you see:

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And in year 2 the Tax Brackets increase:

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Any questions please contact support@planwithvoyant.com or click on the client name and Request Support

Contact Voyant Support - How to request support from AdviserGo and share your client case with the Voyant Support team