WORKERS EXPECTING to get more cash in their pay packs from this month will have to wait a little longer.
That’s because Government is yet to put the legislation in place to effect the reduced levels of personal income taxes announced in the Budget a month ago.
In the June 15 Budgetary Proposals, Minister of Finance Chris Sinckler said: “It is proposed that with effect from income tax year 2015 . . . and in an effort to ensure that taxpayers are not unduly disadvantaged by [tax deduction] changes, I now propose that the current tax rate of 17.5 per cent will be reduced to 16 per cent and the higher rate of 35 per cent to 33.5 per cent.”
Please read the full story in today’s Daily Nation, or in the eNATION edition.
