Finance Minister Dr Ashni Singh this afternoon announced income tax relief.
In his 2022 budget speech he said it is proposed that the monthly income tax threshold be increased from $65,000 to $75,000 monthly, thereby releasing a total of $1.3 billion into the hands of current taxpayers both in the public and private sectors.
He also announced a rise in the uniform grant for each student from $4,000 to $5,000.
“This will place $200 million of disposable income in the homes of 200,150 children attending both public and private schools”, he said.
Singh also announced the intention to increase the cash grant per child from $15,000 to $25,000.
“This will place an additional amount of $2 billion in the homes of the same 200,150 children attending both public and private school”, the minister said.
