The income tax threshold will increase from $130,000 to $140,000, Finance Minister Dr. Singh announced on Monday night during the presentation of the 2026 National Budget.
This threshold increase, he noted, will result in the removal of 5,000 persons from the tax net whilst adding over $2 billion in disposable income to workers.
Those workers who will no longer pay income taxes are those who earn $140,000 or less. What this also means is that individuals will only pay tax on the amounts earned after the first $140,000 is deducted.
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