Income tax exemption for summer-job wages of young people aged 21 or under

Article 89 of the 2005 Finance Act adds a 36° to Article 81 of the General Tax Code: wages paid to children aged 21 or under on 1 January of the tax year, for work done during school or university holidays, are exempt from income tax up to twice the monthly minimum wage (SMIC). It applies from the taxation of 2005 income. The Government bill covered under-18s up to one monthly SMIC; the National Assembly raised the age and the ceiling.