Last year, the government substantially reduced the amount of tax-free income
investors can earn from shareholder payouts, cutting the dividend allowance to just PS2,000, from PS5,000 in April 2018.
Workers got a benefit of Sh6.13 billion in lower payroll taxes after the pay-as-you-earn (PAYE) bands were expanded and the minimum taxable income raised.The Kenya Revenue Authority (KRA) says the policy measure, which was enforced for the second year running in January 2018, reduced the payroll tax base for the year ended June 2019.The Treasury expanded the PAYE tax bands by 10 percent in January 2018, which raised effective tax-free income
threshold from Sh12,260 to Sh13,486 per month.
"This will provide steady tax-free income
for homeowners and a home for NUI Galway students who contribute so much to the local economy.
Cabin crew are offered an entire employment package which includes a tax-free income
, free shared accommodation in Dubai, medical and dental cover as well as travel benefits for friends and family.
The boards of directors of Duff & Phelps Utility and Corporate Bond Trust Inc (NYSE:DUC) and DTF Tax-Free Income
Inc (NYSE:DTF) have approved common stock dividends of USD0.0305 per share on each fund, the funds declared on Thursday.
Lagman said President Duterte's 'apologists' errantly downplayed the high inflation rate by saying it was not alarming because people have more money to spend from a higher tax-free income
under the Tax Reform from Acceleration and Inclusion (TRAIN) law and free tuition in state universities and colleges (SUCs).
In response, the government introduced its Rent A Room scheme, which enables homeowners with a spare room to earn a tax-free income
of up to PS7,500 a year without having to fill out a tax return.
There are three basic components of the return of a municipal term trust in its final year: 1) the closing of the discount at which the fund is bought, 2) the tax-free distributions, and 3) the tax credit created when the fund pays out the embedded undistributed tax-free income
upon the liquidation of the fund.
This pays a tax-free income
in the event of longterm injury or illness after any deferred period until you either return to work, retire or die.
This is because most taxpayers are allowed a certain amount of tax-free income
(called a personal allowance).
He is the author of "Municipal Bonds- What You Need to Know to Start Earning Tax-Free Income
." He is a Board Member of the East Valley Planning Council.
The non-taxpayer can then shift PS1,100 of their tax-free allowance to the taxpayer - so they now have an extra PS1,100 of tax-free income
, worth PS220.