Like in recent years, the Malta Budget 2021 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. Below you will find a snapshot of some of the measures that will be introduced. This is not the full list.

Measures

Family

• Increase in children’s allowance to all families
• Couple who adopt a child locally will receive a grant of €1,000
• A €6,000 yearly grant will be eligible for those who hire a carer to look after a person with a disability
• In-work benefit thresholds to be extended. Another 4,500 families will benefit from this.
• One year of free internet will be given to those students who continue studying after they reach 16 years of age
• A grant of €300 will be given to those parents who have to quit work to care for a disabled child who is older than 16

Pensions

• All those aged 70 or older will be given Tallinja card for free
• The cost of living allowance will be €5 per week (€3.25 per week more than the norm)
• Those pensioners who do not qualify for a pension will receive a bonus of €350
• Senior citizens will have Government bonds reserved for them with favourable interest rates

Other Malta Budget 2021 measures / information

• The cost of living allowance will be €1.75 per week
• Wage supplement to given to pandemic-affected businesses will be extended to March 2021 (at least)
• Increase in income tax refund – for single people and also for married couples
• The Government voucher scheme is to be extended with a further €100 in vouchers (per person)
• One additional vacation leave day to all employees for public holidays falling on weekends
• If the income of an NGO is under €50,000, they are to be exempt on Tax
• Tax incentives for first-time buyers up to €200,000 on property value
• There will be reduced tax on property given by donation
• Those paying for a private pension will see the tax-exempt threshold increased from €2,000 to €3,000
• The property transfer concession of 1.5% tax will be extended by a further 12 months
• The car scrappage scheme is to be extended. The maximum grant will be €7,000

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 2021.
Please note that some details might be incorrect when this blog post has been published.

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