On the 26th of July 2024, the President of the Republic of Mauritius, Prithvirajsing Roopun, signed the Finance Act 2024 into law. This act introduces the following changes to the Income Tax Act, which affects payroll as follows:
Exempt Income
- The exempt threshold for lumpsums received as pension, retiring allowance, or severance allowance, has been increased to Rs 3Â 000Â 000.00, effective from 7 June 2024.
Personal Deductions and Reliefs
- The limit for donations to NGOs and charitable institutions has increased to Rs 100Â 000.00, effective from 1 July 2024.
- A new income tax deduction of Rs 30 000.00 is available for employing a carer for parents or grandparents, effective from 1 July 2024.
- A new income tax deduction of Rs 60Â 000.00 per child per annum is available for parents with children in full-time education at fee-paying private schools, effective from 1 July 2024.
Click here to view a copy of the published Finance Act 2024 for more information.
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The PaySpace Team
