Budget 2026: Income tax threshold raised to $140,000

Finance Minister Dr Ashni Singh on Monday announced a further increase in the income tax threshold as he presented Budget 2026, themed “Putting People First,” to the National Assembly.
Dr Singh said that by the end of the Government’s last term in office, the income tax threshold was doubled from $65,000 in 2020 to $130,000 in 2025. He noted that this measure resulted in approximately $18 billion in additional disposable income for workers and removed about 60,000 persons from the tax net.
Building on this policy, the Finance Minister announced that the income tax threshold will be increased from $130,000 to $140,000 per month, with effect from the year of income 2026. According to Dr Singh, the adjustment will remove a further 5,000 persons from the tax net and inject more than $2 billion in additional disposable income into the hands of workers.
He told the Assembly that the series of measures implemented by the Government are designed to ease the cost of living and support working families across the country.