Personal Income Tax Threshold Moves to $2 Million

The Government will increase Jamaica’s personal income tax threshold to $2 million over a three-year period, commencing April 1.

The announcement was made by Minister of Finance and the Public Service, Hon. Fayval Williams, while opening the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11).

She said that the threshold will be increased in three tranches to $1.8 million, then $1.9 million, then $2 million.

“Doing it this way means our hardworking taxpayers don’t have to guess and spell next year, or the next year or the next year if the threshold is going to increase. We are a caring Government. We are a responsible Government,” the Minister declared.

In April 2024, the threshold for personal income tax was increased to $1.7 million from $1.5 million.