Budget 2022 – Exemption on pension income

Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. Pensioners will be entitled to a higher pension income which will be exempt from tax.  The maximum amount of pension income will be increased to Eur14,318.  Couples receiving a pension and opting to be taxed at the married rates […]

Written By Stephen Balzan

On October 12, 2021
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Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022.

Pensioners will be entitled to a higher pension income which will be exempt from tax.  The maximum amount of pension income will be increased to Eur14,318.  Couples receiving a pension and opting to be taxed at the married rates will be entitled to another Eur3,600 tax free amount in respect of other sources of income.

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.  

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected].