Malta | Income Tax Return Basis 2018 – Pensioners – Tax Rebate calculations

Legal Notice 22 of 2018 explains the Government Budget 2018 measures on Pensions. The Legal Notice does not mention exemptions but tax rebates allowable as a set-off. The tax rebates allowed against taxed income earned in the year 2018 shall in no case give rise to a tax refund and shall not be allowed to be carried forward to following years.

The workings for the tax rebate for pensioners over 61 years of age are the following:

Persons applying the Single Tax Rates with pension exceeding €9,100:
Pension Tax Rebate = [(Pension Income – €9,100) * 0.15]
Condition: Maximum tax rebate cannot exceed €615

Persons applying the Parent Tax Rates with pension exceeding €10,500:
Pension Tax Rebate = [(Pension Income – €10,500) * 0.15]
Condition: Maximum tax rebate cannot exceed €405

Persons applying the Married Tax Rates with pensions exceeding €12,700:
Pension Tax Rebate = [(Pension Income – €12,700) * 0.15]
Condition: Maximum tax rebate cannot exceed €75
Pharmabol have been in mail order business since 1998 and have become most trusted and acknowledge sildenafil 100mg steroid supplier. Some scientific studies also discovered that http://greyandgrey.com/wp-content/uploads/2018/07/Danin.pdf buy generic levitra diseases like testicular cancer and penile cancer have high recovery rate. The motto of viagra generic cheap and cialis is providing high quality medicine through a lesser price. There are cases where people have employed several inferior quality pills and got undesired side effects order tadalafil no prescription on to their health. An additional further tax rebate is being granted for pensioners earning additional taxable income:
Total Tax Rebate = [(Total Income – €12,700) * 0.15] – [Pension Tax Rebate as above]
Condition: Maximum tax rebate cannot exceed €150

[tooltip icon=”yes” color=”dark” tip=” Government Budget 2017 Highlights “] [/tooltip]  Click here for full Government Budget 2018 Highlights

Downloads:
[icon name=”download” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Budget 2018 Speech in Maltese

Links:
[icon name=”link” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Relevant Government budget measures 2018
[icon name=”link” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Relevant Government Budget 2018 measures affecting pensioners
[icon name=”link” iconsize=”small” iconcolor=”” background=”true” backgroundcolor=”” ] Relevant Government Budget 2018 measures affecting 1st time buyers