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 Olim

Caspy & Caspy view Aliya as a most important Zionist act, and works extensively on behalf of new Olim in Israel.  Our Firm guides Olim and returning residents in various aspects of tax relief, rights granted to Olim, benefits from government ministries, the payment of tax and liabilities opposite authorities in the source countries, etc.  Our Firm has been guiding New Olim for many years and has expertise in the various issues involved in Aliya.  Likewise, our Firm has filed position papers with the authorities on matters of tax relief for Olim.

Nefesh B'nefesh - Conference Presentations

Israeli Tax, Eitan Caspy, CPA

US Tax, Jeff S. Melamed, CPA 

Olim benefits position paper

Olim benefits position paper

Savings plan for each child – US tax dispute

Our firm is working with the Ministry of Finance to find a solution to the tax problem created for US citizens as part of a savings plan for each child.

Tax benefits for New Olim and Returning Residents

In 2008, the Ministry of Finance, Ministry of Absorption and Tax Authority announced a reform in honor of the State's 60th birthday, with the objective of giving a series of tax benefits to New Olim and Returning Residents for a 10-year period from the data of Aliyah or return to Israel. 

1. Tax exemption on all types of income sources outside of Israel for a 10-year period. Income sources outside of Israel include income from a business, salary income and passive income, such as royalties or rental fees. 

2. Tax exemption for 10 years on income from the sale of assets and investments outside of Israel that generated the tax exempt income. A partial/linear exemption will commence in year 11 after Aliyah. There is no need to purchase the assets before Aliyah. 

3. Broadening the tax relief for Returning Residents – Designation of a new tax status for a "Returning Resident Classified as a New Oleh for Income Tax Purposes", for anyone who spent at least 10 years outside of Israel. This status broadens the tax relief given to a Returning Resident and equalizes it with the relief given to a New Oleh. 

4. Designation of an acclimation track – Granting of an acclimation period of one year from the date an individual arrives in Israel, during which, at his request, he will not be deemed an Israel resident for income tax purposes. Following this acclimation period, the individual will be able to make an educated decision about his place of residence. 

5. Designation of a tax exemption for companies managed by an Oleh – Companies outside of Israel that are controlled by Olim will not be classified as Israel-resident companies only because of the Aliyah of their shareholders to Israel. 

6. Designation of an exemption from reporting income originating from outside of Israel – Individuals and companies under their control will not be required to report the income that benefits from the exemption. 

7. An exemption from filing a statement of net worth on assets and liabilities outside of Israel. 

8. An additional 10-year exemption (total of 20 years) from the payment of tax or reporting in Israel for an Oleh who makes a significant investment with a national goal. 

9. Partial tax exemption on pensions outside of Israel. The tax rate will not exceed the tax rate that would be paid outside of Israel. 
 

Credit points for New Olim

A New Oleh is entitled to additional credit points for 3 1/2 years, i.e. 42 months, from the date of his Aliyah to Israel, as follows: 
For the first 18 months after his Aliyah: 1/4 of a credit point per month. 
For the next 12 months: 1/6 of a credit point per month. 
For the next 12 months: 1/12 of a credit point per month. 

A New Oleh is allowed to freeze his entitlement in the following cases: 
1. Induction into the army. 
2. Studies in a recognized academic institution. 
3. Leaving the country for a period of six months to three years. 

Caspy & Caspy view Aliya as a most important Zionist act, and works extensively on behalf of new Olim in Israel.  Our Firm guides Olim and returning residents in various aspects of tax relief, rights granted to Olim, benefits from government ministries, the payment of tax and liabilities opposite authorities in the source countries, etc.  Our Firm has been guiding New Olim for many years and has expertise in the various issues involved in Aliya.  Likewise, our Firm has filed position papers with the authorities on matters of tax relief for Olim.

Nefesh B'nefesh - Conference Presentations

Israeli Tax, Eitan Caspy, CPA

US Tax, Jeff S. Melamed, CPA 

Olim benefits position paper

Olim benefits position paper

Savings plan for each child – US tax dispute

Our firm is working with the Ministry of Finance to find a solution to the tax problem created for US citizens as part of a savings plan for each child.

Tax benefits for New Olim and Returning Residents

In 2008, the Ministry of Finance, Ministry of Absorption and Tax Authority announced a reform in honor of the State's 60th birthday, with the objective of giving a series of tax benefits to New Olim and Returning Residents for a 10-year period from the data of Aliyah or return to Israel. 

1. Tax exemption on all types of income sources outside of Israel for a 10-year period. Income sources outside of Israel include income from a business, salary income and passive income, such as royalties or rental fees. 

2. Tax exemption for 10 years on income from the sale of assets and investments outside of Israel that generated the tax exempt income. A partial/linear exemption will commence in year 11 after Aliyah. There is no need to purchase the assets before Aliyah. 

3. Broadening the tax relief for Returning Residents – Designation of a new tax status for a "Returning Resident Classified as a New Oleh for Income Tax Purposes", for anyone who spent at least 10 years outside of Israel. This status broadens the tax relief given to a Returning Resident and equalizes it with the relief given to a New Oleh. 

4. Designation of an acclimation track – Granting of an acclimation period of one year from the date an individual arrives in Israel, during which, at his request, he will not be deemed an Israel resident for income tax purposes. Following this acclimation period, the individual will be able to make an educated decision about his place of residence. 

5. Designation of a tax exemption for companies managed by an Oleh – Companies outside of Israel that are controlled by Olim will not be classified as Israel-resident companies only because of the Aliyah of their shareholders to Israel. 

6. Designation of an exemption from reporting income originating from outside of Israel – Individuals and companies under their control will not be required to report the income that benefits from the exemption. 

7. An exemption from filing a statement of net worth on assets and liabilities outside of Israel. 

8. An additional 10-year exemption (total of 20 years) from the payment of tax or reporting in Israel for an Oleh who makes a significant investment with a national goal. 

9. Partial tax exemption on pensions outside of Israel. The tax rate will not exceed the tax rate that would be paid outside of Israel. 
 

Credit points for New Olim

A New Oleh is entitled to additional credit points for 3 1/2 years, i.e. 42 months, from the date of his Aliyah to Israel, as follows: 
For the first 18 months after his Aliyah: 1/4 of a credit point per month. 
For the next 12 months: 1/6 of a credit point per month. 
For the next 12 months: 1/12 of a credit point per month. 

A New Oleh is allowed to freeze his entitlement in the following cases: 
1. Induction into the army. 
2. Studies in a recognized academic institution. 
3. Leaving the country for a period of six months to three years. 

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