The 2019/20 Budget was presented by the Hon. Pravind Kumar Jugnauth, Prime Minister and Minister of Finance and Economic Development under the theme “Embracing a brighter future together as a nation”.
For me, personally, key highlights that i notice from the budget speech: (Courtesy: Lexpress.mu)
I am pleased to announce that the 9th of September will be declared a public holiday, so that we can as a nation, welcome His Holiness to our country.
Cool! A Public Holiday!
Fuel and gas.
As from tomorrow 11th June:
The price of mogas will be reduced from Rs 47 per litre to Rs 44 per litre.
The price of diesel will be reduced from Rs 38 per litre to Rs 35 per litre.
And the price of a 12 kg cylinder of cooking gas will be reduced from Rs 240 to Rs 210.
Cool! La Vie moins cher…
I am pleased to announce that pending the publication of the Report, I am providing for the payment of an interim monthly allowance of Rs 1,000 to all public officers as from 1st January 2020.
That’s Magic. As from Salary June 2019, all Public Officers have their salary increased by Rs. 1000. Happy for them! Medical Insurance also for them. Big advantage of joining Government Job! Nothing for the private sector though 🙁 NRB
Health care.
I am providing Rs 200 million for implementing a Medical Insurance Scheme for public sector employees. For those earning less than Rs 10,000, Government will pay fully the insurance premium. For those earning more than Rs 10,000, Government will contribute 50 percent of the premium.
As the Chagos Refugees return to their island – Rs. 50m are reserved to help their re-occupation
Rodrigues
There will be no increase in airfare this year. I am providing Rs 92 million for the Special Rodrigues Holiday Package and the Subsidy on Airfare from Rodrigues.
Agalega.
To further support the development of Agalega, I am providing for:
greater support to patients requiring overseas emergency treatments;
the upgrading of the existing dispensary into a modern full-fledged mediclinic with necessary medical equipment and facilities such as telemedicine for complex medical cases;
a fully equipped gym to promote health and wellbeing of the citizens;
a full-fledged library for the inhabitants;
an additional first response vehicle for immediate interventions during fire and other disasters; and
the construction of a refugee centre in the south of the island.
Helping our Elderly.
I am announcing today another increase of Rs 500 on the monthly old age pension as from January 2020, to bring the old age pension to Rs 6,710 per month.I am increasing the annual grant to the Senior Citizens Council by Rs 500,000.
I am increasing the monthly carer’s allowance from Rs 3,000 to Rs 3,500 for some 23,000 bedridden pensioners.
INCOME TAX EXEMPTION:
I am pleased to announce that I am granting a tax credit of 5 percent to an employee, if his salary, inclusive of salary compensation in the first month is below Rs 50,000 and he earns annual net income below Rs 700,000 in that income year. This will allow an estimated additional 5,000 employees to benefit from the reduced 10 percent personal income tax rate.
As regards personal income tax, I am increasing the income exemption thresholds for all categories of taxpayers for the income year 2019-2020 as follows:
For a taxpayer who has no dependent or one dependent, the threshold will increase by Rs 5,000;
For a taxpayer with two dependents, the threshold will increase by Rs 20,000;
For a tax payer with three dependents, the threshold will increase by Rs 25,000; and
For a taxpayer who has four dependents, the threshold will increase by Rs 45,000.The additional deduction for a childpursuing tertiary studies and relief for medical insurance premium will now be available for a maximum of 4 dependents instead of 3 dependents.
The additional income tax exemption of Rs 50,000 will be granted to a retired or disabled person having more than one dependent, instead of being restricted to those having one dependent only.For me personally, it has always been a great opportunity to perform in this theatre. Very keen for this theatre to be functional again, modern and with great amenities for artists and theatre lovers
Port Louis Theatre
Investing in Arts and Culture to Promote Well Being.
Rs 30 million have been earmarked for phase 2 of the renovation of the Port Louis Theatre.
Investing in Sports and Physical Activity. I am announcing today a major game changer in the history of Mauritian Sports. Indeed, Mauritius Multi-Sports Infrastructure Ltd will sign an agreement with the Liverpool Football Club and Athletics Grounds Limited from the UK to set up an International Football Academy Soccer School at Côte D’Or. This is the very first international sports academy that will be set up at Côte D’Or.
Giving More Support to Middle Income Families Who are Investing in their Own Dwellings
Households earning monthly income between Rs 10,000 and Rs 15,000 will benefit from a subsidy of 60 percent instead of 50 percent on the cost of a housing unit;
Households earning monthly income above Rs 15,000 and not exceeding Rs 20,000 will benefit from a subsidy of 30 percent instead of 20 percent.
Households earning monthly income above Rs 20,000 and not exceeding Rs 25,000 will now benefit from a subsidy of 25 percent; and
Households earning monthly income above Rs 25,000 and up to Rs 30,000 will now benefit from a subsidy of 15 percent.Giving More Support to Middle Income Families Who are Investing in their Own Dwellings
A first time buyer will benefit from full exemption from registration duty on the purchase of an existing house or apartment of up to Rs 5 million instead of Rs 4 million currently, representing an additional benefit of up to Rs 50,000.I am also extending the Building Materials Grant Scheme and the Roof Slab Grant Scheme to households who have already benefitted from Corrugated Iron Sheet and Concrete cum Corrugated Iron Sheet housing units and also to families living in Ex-CHA houses which contain asbestos.
Here is the full extract of the budget speech:
