Malta | Budget 2017 – Pensioners

13 relevant Government Budget 2017 measures affecting pensioners:

  • Cost of Living Allowance (COLA) – increase of €1.75 per week commencing January 2017 – view 2017 COLA
  • Malta resident status tax rates for 2017 – view 2017 resident status tax rates
  • Certain persons receiving dividends on profits from companies quoted on the Malta Stock Exchange during 2017 shall have this tax refunded if declared in the tax return
  • The minimum pensions shall increase by €4 per week and pro-rata for those receiving a pension slightly higher than the minimum pension
  • Pensioners of the age of 61 and over who qualify for the single rates shall be exempted from tax on the first €10,500 in 2017 (€13,000 in 2018) on income derived from pensions (Examples: treasury, social security, local and foreign pensions)
  • Pensioners who qualify from the married tax rates shall be be exempted from tax on the first €13,000 in 2017 on income derived from pensions and additionally exempted from tax on the first €500 in 2017 (€1,000 in 2018) on other income
  • Pensioners who qualify for the parent tax rates shall be exempted from tax on the first €11,500 in 2017 (€13,000 in 2018) on income derived from pensions
  • Pensioners of 75 years and over shall retain the grant of €300 p.a. on the condition that they live in their own home
  • In 2017 pensioners who have not reached the age of 75 and who have paid between 1 year and 5 years of social security contributions shall receive a bonus of €150, an increase of €50
  • In 2017 pensioners who have not reached the age of 75 and who have paid over 5 years of social security contributions shall receive a bonus of €250, an increase of €50
  • Service pension shall increase by €200 and shall be deducted from the social security pension
  • The differences between female and male pensions shall be eliminated by bringing female pensions equivalent to male pensions
  • The wage subsidy for care workers caring for old aged persons who are in the waiting list to enter a government managed care home shall reach a maximum subsidy of €5,200p.a.

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Downloads:
[icon name=”download” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Budget 2017 Speech in Maltese

Links:
[icon name=”link” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Relevant Government budget measures 2017
[icon name=”link” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Relevant Government Budget 2017 measures affecting pensioners
[icon name=”link” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Relevant Government Budget 2017 measures affecting 1st time buyers

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