Jamaica Issues Technical Advisory on Increases in the Personal Income Tax Threshold and Pension and Age Relief Exemption

Jamaica's Tax Administration (TAJ) has issued a technical advisory on the changes announced as part of the Budget for 2024/25 for:

• An increase in the annual general personal income tax threshold from JMD 1,500,096 to JMD 1,700,088; and
• An increase in both the pension exemption and the age relief exemption from JMD 80,000 to JMD 250,040.

The key points of the technical advisory concern the need to prorate the changes considering the effective date, which is 1 April 2024. The exemption thre…