There has been no adjustment in the 2018 budget to the income tax threshold though the entire personal allowance of $720,000 will now be available to those who only work for a part of the year. Measures were also announced for the private sector, the gold industry and education services in the presentation by Finance Minister Winston Jordan yesterday. The measures follow:
2018 Budget measures as announced by the Finance Minister
A. Measures in Support of Our Green Agenda
Mr. Speaker, in Budget 2017, hybrid vehicles below a certain engine capacity benefitted from tax concessions, while there were no engine capacity limits for electrically powered vehicles. In an effort to further reduce emissions, I propose to:
a) exempt the Excise Tax on vehicles principally designed to accommodate LPG gas, with an engine capacity not exceeding 2000 cc and not exceeding four years old from the date of manufacture to the date of importation. b) amend Part III B (i) of the First Schedule to the Customs Act, Chapter 82:01 to exempt machinery and equipment from the payment of Customs duties to set up refilling stations for such vehicles, as determined by the Commissioner-General. The VAT
