Personal income tax allowance
Personal income tax allowance will rise from $420,000 per annum to $480,000 per annum or from $35,000 per month to $40,000 per month.
Corporation tax
For commercial companies except for telephone companies the corporation tax rate drops from 45% to 40%.
For non-commercial companies the corporation tax rate drops from 35% to 30%.
Public assistance
Public assistance will rise from $4,900 per month to $5,500 per month.
Old age pensions
Old age pensions will rise from $6,600 per month to $7,500 per month.
