Malta Budget 2020

This is an information page, and it is not associated with any political party, newspaper or anything of this sort. The idea of this blog is to give a very high-level of the Malta Budget 2020.
Please note that some details might be incorrect when publishing this blog.

Like in recent years, the Malta Budget 2020 is announced on a Monday in the month of October. The people will be waiting for it, and would have already speculated on what would be the budget measures for the next year. So far, nothing new, just the culture of the Maltese people.

Measures

Family

Cost Of Living Allowance will be of €3.49 per week
A one-off bonus ranging from €15- €35 for every household
One additional vacation leave to every employee
15% tax rate for the 100 hours of overtime for those earning less than €20K
Tax refund ranging from €40 to a maximum of €68 for every employee
A bonus of €300 for every child born or adopted as of next year
An increase of €10 for those widow/ers having a child younger than 18 years
Reduction in National Insurance contribution from 5% to 1.5%, when the family business is passed over to the children
One time bonus of €15 for single or €35 for each household in order to compensate for the increase prices in milk and bread

Pensions

Additional increase of €3.51 a week for a total of €7 a week
Non-taxable income will increase to €13,798
For those couple with one pension, there will be an increase to €2,000, the income that will be exempted from tax, that is €15,798
Free public transport will be granted for those who are 75 years or older
For a number of pensioners, the Supplementary Aid will increase by €100, that is from €50 to €150

Other Malta Budget 2020 measures / information

Capping of €10K when paying in cash for property, cars, diamonfs yachts etc
Schools will have drinking water fountains
First online spell checker for the Maltese language
From 2020, a new rent law will be introduced
An increase from €150 to €161 for the disability pension
Grant for elderly people (80+) of €300 to €350
Extension for Second Time Buyers
Preferential rate for electricity tariff for those charging electric vehicles at home
Reduction in use for one time use plastic
Regeneration of coasts at Msida, Pieta’ and Kalkara
Increase of 5.7% in salary and wages
New €400 million pipeline investment
One additional vacation leave day to all employees
Increase in students’ stipend
New transport by sea from Cottonera, Marsaxlokk, Marsascala, St Paul’s Bay, St Julians, Mellieha, Sliema and Valletta
New investment for the University and MCAST
Continuation of free transport for all state, independent and church schools
Schemes for PV, heat pump water heaters, and solar water heaters
New hospital for mental health
Extension to the present schemes of Business Start and Start-up Finance
Continuation is modernising the Air Malta fleet
Fiscal incentives for companies being reallocating in Gozo
Primary Health Centre in Gozo
Works for the tunnel connecting Malta to Gozo
More infrastructural works in Gozitan roads
Digital technology in the Justice system
Investment in special accessories for Police vehicles
New Police Station in Marsascala
Regional Hub for Civil Protection
Voluntary Centre in Marsaxlokk
Preparations for the second phase of the Shooting Range in Ta’ Kandja l/o Siggiewi
Extending scheme to buy scooters and bicycles
Work on indoor pool in Cottonera
New embassies in South America and Tokyo(Japan)
Introducing an agency for Financial Organised Crimes Agency

Please note that the above is not the full list

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