Personal Income 2016

[baboo]

Hi guys,

Was wondering if from Jan 2016 the personal income of 75K would be in effect. so we should expect our salaries to be a bit more right?
wondering if all employers are aware of this

[RBphoto]

Endurance January has me hoping for the same.

[zoom rader]

You just got robbed, all that tax free money will be eaten up by indirect taxes.

[shiva_0001]

i still got taxed the same as last year..... i don't understand why because if your salary is over 6000 shouldn't there be an extra $250 in January pay?

[originalbling]

Make sure and submit a TD-1 form to your employer so it has the new personal allowance taken into account.

[desifemlove]

should be this month. Dr. R/Imbert said Jan 1st.

[Gem_in_i]

i still got taxed the same as last year..... i don't understand why because if your salary is over 6000 shouldn't there be an extra $250 in January pay?

Same here

[PariaMan]

I got the extra 250. It is up to your payroll department to make the correction

[mitsu_chick941]

integrated payroll has not made the amendments as yet, therefore public officers got over taxed for january

[SMc]

is the tax year the same as the calender year?...just asking

[uncle sam]

anybody got returns for 14/15 yet btw?

[mitsu_chick941]

wtf

[fred1266]

anybody got returns for 14/15 yet btw?

nope s5ill waiting

[TriniAutoMart]

When was the bill passed exactly?
Can that have something to do with the delay?

[teems1]

Hi guys,

Was wondering if from Jan 2016 the personal income of 75K would be in effect. so we should expect our salaries to be a bit more right?
wondering if all employers are aware of this

Isn't it 72K and not 75K?

[ebfields]

anybody got returns for 14/15 yet btw?

I checked for mine this morning at BIR. Guy told me that the cheque was approved only this month so it should be ready soon hopefully. That's 2014 return eh.

[88sins]

the personal allowance was raised to $72000, not $75000.
Secondly, your allowance isn't solely based on what you make, so taxation on salary above 6000/month will not be a flat a $0.25 on $1.00

I did the calculations a lil while aback, & if a person with no annuity/pension is making less than 6190/month, they don't have to pay income tax. If your employer deducts it you will be able to claim it all back in your annual tax return for 2016

[mitsu_chick941]

is the tax year the same as the calender year?...just asking

yeah....you file yearly not so?!

Academic however is different.


In a post cabinet briefing the minister presented the fiscal measures to be undertaken, effective January 1st 2016......Personal Allowance from 60k to 72k

Individuals earning $6000 per mth or less are exempted from paye and not required to file returns.

[SMc]

^^^thanks...BTW I was about to ask if you have a cousin named Vincent

[mitsu_chick941]

Price?

[SMc]

close... think twice

[mitsu_chick941]

then no

[SMc]

you need only look at the first 30 seconds....



just asking, but on another note I do know/knew a Vincent Price.

[uncle sam]

anybody got returns for 14/15 yet btw?

I checked for mine this morning at BIR. Guy told me that the cheque was approved this only month so it should be ready soon hopefully. That's 2014 return eh.

lawd

[ebfields]

Finally got it in the mail today. Met it waiting for me when I got home tonight. Bless Jah!

[zoom rader]

The great PNM tax con job.

Drop taxes to pay more PNM taxes.