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.
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.