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New budget changes effective today

July 31, 2017 6:36 pm

The Government’s new financial year will come into effect with many new incentives and programs from today.

The total expenditure for 2017-2018 Budget stands at $4.357 billion dollars, with a total projected revenue of $3.857 billion dollars.

A ten cent tax on plastic bags at retail outlets with point of sale registers becomes effective from today.

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Changes to the job evaluation exercises for the Police force will also be implemented together with the overall increase in salaries from 11.5% to 20.5%.

Eight hundred specialist nursing positions will be recognised featuring salaries of up to 25% above general nursing positions. These include coronary care specialists, intensive care specialists and midwives.

Value nurse practitioners will also receive salary increases of up to seventy-four percent.

Good news for teachers too. They will receive significant salary increase. The average increase for qualified teachers is 14.3%, and it’s 13.8% for school heads and administrators.

The new income tax threshold will also increase from $16,000 to $30,000 from today.

However, the excise duty on cigarettes, tobacco and alcohol will increase by 15%.

Excise tax on sweetened and carbonated drinks will also increase by 15% from 30c per litre to 35c per litre.

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