Jamaica Income Tax Threshold 2013

Take note:

“Tax Administration Jamaica (TAJ) is reminding that an increase in the Income Tax Threshold and a cut in the Corporate Income Tax rate will take effect tomorrow.

The income tax threshold which is the tax-free portion of one’s salary will move to $507,312 a year, up from $441,168.

This means that for weekly paid workers, the first $9,756 will not attract income tax.

For people who are paid fortnightly, the first $19,512 will not be taxed, while for monthly paid workers, the first $42,276 s will not be taxed.

The TAJ said the portion of people’s salary that exceeds the threshold will continue to be taxed at 25 per cent.

For pensioners and persons 65 years and over, in addition to the increased threshold, they are entitled to a pension exemption of $80,000 and an age exemption in the similar amount.

Meanwhile, come tomorrow, the new 25 per cent Corporate Income Tax rate will take effect for most companies.

The old rate of 33 and 1/3 per cent will remain in effect for companies regulated by the Financial Services Commission, the Office of Utilities Regulation, the Bank of Jamaica,; and the Ministry of Finance and Planning.

The adjustments to the income tax threshold and the corporate income tax rate were announced earlier this year during the Budget presentation.”

This entry was posted in Finance. Bookmark the permalink.

7 Responses to Jamaica Income Tax Threshold 2013

  1. air jordan says:

    Do you have a spam problem on this site; I also am a blogger, and I was wanting to know your situation; many of us have developed some nice practices and we are looking to swap techniques with others, be sure to shoot me an e-mail if interested.

  2. air jordan 5 says:

    Gday. I noticed your site title, “%BLOGTITLE%” does not really reflect the content of your site. When creating your site title, do you think it’s most beneficial to write it for Search engine marketing or for your viewers? This is one thing I’ve been struggling with mainly because I want good rankings but at the same time I want the best quality for my website visitors.

  3. Jamaica Income Tax Threshold 2013BIG in Jamaica

  4. replica birkin bag review celine wdhxddt hermes replica belts india china sgziojhsn

  5. Eldon Brunet says:

    Thank you for another fantastic article. Where else could anyone get that kind of information in such an ideal way of writing? I’ve a presentation next week, and I am on the look for such information.

  6. It is best to take part in a contest for among the finest blogs on the web. I will recommend this site!

  7. Exceptional post however I was wanting to know if you could write a litte more on this subject? I’d be very thankful if you could elaborate a little bit more. Many thanks!

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>