By Samantha Solomon
The tax free trash hold remains at K20,000 for next year National Budget, however Treasurer Ian-Ling Stuckey announced the tax exemptions for 13 household goods to be implemented starting July 2025.
He said this will reduce the high cost of living pressures that families are going through.
According to the 2025 budget those people that earns more than K20, 000 per annum as their salary will pay a total of 30% income tax while those earns between K33, 000 and K70, 000 will pay 35% income tax while those that earns K70, 000 to K250,000 will pay 40% income tax and those above K250,000 will pay a 42% tax.
The treasury Minister Ian Ling Stuckey said they will lift the stamp duties exemptions threshold for first time home buyers from K500, 000 to K700,000 as well.
“Considering also the living pressure that people are going through the Marape Rosso government has announced tax exemptions on 13 basic household goods starting next year.” said Minister Stuckey.
he said the basic household goods include rice, chicken, tinned meat, tinned fish, tea and coffee, biscuits, noodles, flour, cooking oil, sanitary pads, soap and baby diapers.
He said that the 2025 budget builds on the historic households assistance support packages of K1 637 million over the last three years.
Other sectors such as health and education have also seen an increase in this year’s budget.
