Social Security Benefits – Taxable Status
Legal Notice 120 of 2022 which pertains to the Income Tax Exemption (Amendment) Order, 2022, is currently in effect. The order is issued by the Ministry for Finance and Employment under the powers conferred by articles 12(1)(b) and 96 of the Income Tax Act. Its purpose is to provide individuals that are entitled to certain allowances and benefits under the Social Security Act, tax exemptions under the Income Tax Act.
The order amends the Income Tax Exemption Order and substitutes the Schedule to the principal order with a new Schedule that includes allowances or benefits that are relevant under the Social Security Act. This means that individuals that are entitled to tax exemptions under the Income Tax Act are now also eligible to receive certain benefits under the Social Security Act.
Click here for a list of Social Security Benefits and their related taxable status.