Income Tax Threshold Increases to $1.7 Million; $20,000 Reverse Tax Credit
Effective April 2024, the personal income tax threshold will move from $1.5 million to $1.7 million. This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, while opening the 2024/25 Budget Debate in the House of Representatives on Tuesday (March 12). Dr. Clarke said the measure will cost approximately $9 billion. He also announced...