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Minister of Finance and Public Service Fayval Williams is greeted by government members following her maiden budget presentation in Gordon House on March 11, 2025. (Photo: Marlon Reid)
Paye-as-you-earn (PAYE) employees are set to benefit from another increase in the income tax threshold which will rise to $2 million over the next three years.
Finance and Public Service Minister, Fayval Williams made the announcement on Tuesday as she delivered her maiden Budget presentation in Gordon House.
“We are a responsible Government and so we will increase the threshold in three tranches to $1.8 million, then $1.9 million, then $2 million over a three-year period starting April 1, 2025,” said Williams.
“Doing it this way means, our hardworking tax-payers don’t have to guess and spell next year, or the next year or the next year if the threshold is going to increase,” she added.
The current threshold of $1.7 million was announced last year by the former Minister of Finance, Dr Nigel Clarke. At the time it was moved from $1.5 million which had been in place since the Jamaica Labour Party returned to power in 2016.
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