- Increase the Personal Tax Allowance Immediately to $120,000
Since 2006 however inflation which has averaged a minimum of 9% has stolen purchasing power away from salaried workers and persons on fixed incomes. At the same time food prices have averaged annual increases of 17%.
To mitigate this patently unfair reality the personal tax allowance should be expanded equivalent to the rate of inflation which means tax allowances in 2014 should be at least $117,000. Any intellectually and morally honest Ministry of Finance should embrace this principle so as to offer relief to an already over taxed population.