6 Things You Need To Know Today – May 13, 2016

measures 

  1. Budget Made Simple: The Revenue Measures (Full List).  Finance Minister Audley Shaw on Thursday announced new revenue measures aimed at raising $13.7 billion to help fund the $580 billion budget. But at the same time, the Government will be giving up $12.5 billion by increasing the income tax threshold from the current $592,800 to $1 million come July 1. Read more on Jamaica-Gleaner.com…
  2. Tax Break For All – No PAYE Worker To Be Excluded From $1.5 Million Relief Plan – Shaw.  Shaw said the first tranche, an increase in the threshold to $1,000,272 from the current $592,000, would take effect on July 1…However, persons earning over $6 million per annum will see an increase in marginal tax rate to 30 per cent, up from 25 per cent…  Read more on Jamaica-Gleaner.com…
  3. Gas Tax Increase Unconscionable – JGRA.  Describing it as the Government giving with one hand and taking back with the other, [Leonard Greem, President of the Jamaica Gasolene Retailers Association (JGRA)] said every Jamaican would be affected by the increase in the fuel tax.”We are also of the view that it might not achieve the desired objectives of the Government for promoting prosperity because there is the risk of increased inflation with a higher cost of fuel, which is going to make the cost of production, transportation and all these things higher,” he said.  Read more on Jamaica-Gleaner.com…
  4. Paulwell Says Fuel Tax Will Impact Consumers Negatively. “Currently, the JPS does not pay taxes on heavy fuel oil. Government has now imposed a tax both on liquefied natural gas, which will arrive in August of this year, and on heavy fuel oil, so it means a significant increase in the price of electricity that has been trending down by almost 50 per cent over the last year.” [said Former Energy Minister Phillip Paulwell]. Read more on Jamaica-Gleaner.com…
  5. Sagicor Foundation Champions Adopt-A-School Programme. “Through our branches across the group, we intend to offer some level of support to these 10 basic schools this year, as we try to relieve some of the pressure that they might face with infrastructure and in delivering quality education to students at this level,” [Chairman of the Sagicor Group, R. Danny] Williams said. Read more on Jamaica-Gleaner.com…
  6. Ancient Future Tour for the US.  Protoje plans to perform all around the United States this summer. He will start the Ancient Future Tour on July 6 in Boston and wrap it up a month later on the West Coast after stopping in New York City, Toronto (Canada), Chicago, Los Angeles and a number of other cities.  Read more on Jamaica-Gleaner.com…