Over 200,000 to benefit from income-tax exemption

DATA from the Central Statistical Office (CSO) shows over 200,000 people will benefit from the recently-announced removal for income tax for those who earn $7,500 and under.

Finance Minister Colm Imbert announced the exemption during the 2023 budget presentation in Parliament on Monday.

Newsday sought data to show how many people in this country earn $7,500 and under from the CSO, which said it could only provide that figure for the first quarter of 2022.

The data showed some people earned as little as $250 a month and up to $10,000 a month. However, the income brackets of 254,266 people were not given.

CSO statistician Joel Julien told Newsday by e-mail, "It should, however, be noted that due to the high number of not-stated responses for this question, the quoted totals for each income group is not exact for the working population."

From the data, the total number of people earning under $7,500 was 232,844.

However, because the income bracket after that ranges from $7,500-$7,999, the total number of people who earned $7,500 flat could not be specified.

In total, those who earned $7,500 and up were 83,711.

The total number of workers represented in the data – including those whose income was not stated – is 570,821.