Income Tax threshold to remain at $30,000 – Prof. Prasad

Deputy Prime Minister and Minister for Finance, Professor Biman Prasad confirms that the income tax threshold will remain at $30,000 in the upcoming national budget.

Professor Prasad says this decision is consistent with last year’s approach and reflects the government’s commitment to protecting household disposable income, especially for lower-to middle-income earners.

The Deputy Prime Minister says they have made a conscious decision not to reduce the threshold last year and they will maintain that same approach this year.

He adds at a time when many families are facing rising living costs, this measure ensures that more money stays in the pockets of those who need it the most.

Professor Prasad will announce the 2025-2026 National Budget next Friday at 10am.