Budget 2022 – Tax free pension income

Minister Clyde Caruana has on the 11th October 2021 presented the Government’s budget for the year 2022. In a bid to encourage pensioners to continue working beyond retirement age, with effect from the year 2022 and gradually over a 5 year period, pension income will not be considered as part of the pensioners’ taxable income.

Written By Stephen Balzan

On October 12, 2021
"

Read more

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

In a bid to encourage pensioners to continue working beyond retirement age, with effect from the year 2022 and gradually over a 5 year period, pension income will not be considered as part of the pensioners’ taxable 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].