Planning personal Financials Bangkok Life Assurance Public Company Limited

Abstract

          The objectives of the study were (1) to examine the personal characteristics of monthly employees; (2) to investigate the saving and tax planning of monthly employees; (3) to study the relationship between the personal characteristics and tax planning of monthly employees; The sample consisted of 320 monthly employees defined by Specific sampling method. The data was collected by using questionnaires and was analyzed by using descriptive statistics: percentage and chi-square.

          The results indicated that (1) most of the employees were single female, aged between 18 and 40, and their families consisted of 3-4 members. They graduated with undergraduate degrees and took an average of 10 years and 9 months for the working experiences. They also had their own houses and cars; (2) most of the employees received only salaries with an average of 15,000-30,000 THB per month. The monthly expenses were prepared in advance and were paid by cash and by credit; (3) most of employees had saving accounts and were able to save money less than 5 percent out of total salaries as well as the personal income tax was exempt. The reduction of the tax burden by using savings fund was planned; (4) for the relationship between personal characteristics and tax planning issue, most employees aged more than 31 with undergraduate degrees. They had to pay the individual tax rate at 10 percentages so they planned to apple life insurance premiums and housing interests for tax reduction; and (5) for the relationship between savings and tax planning issue, employees with capable of savings had planned for their tax reduction by using savings fund and life insurance premiums respectively.