Government is now offering individuals an income tax deduction for health insurance.
Prime Minister Roosevelt Skerrit made the announcement in Parliament on Wednesday, where he presented the 2021-2022 National Budget of over $990m.
According to his address, the deduction will apply to individual or family health insurance premiums paid.
The measure will take effect in the 2022 financial year.
Mr. Skerrit told parliament the deduction, which aims to encourage health insurance coverage, is complementary to Government’s efforts in “quality healthcare and service delivery”.
A deduction of income tax on premiums paid for home or property insurance will also take effect in the 2022 financial year.
According to the Prime Minister, this deduction is geared at assisting individuals with resilience plans.
The maximum deduction to be allowed is $8,000.
And Mr. Skerrit announced that Government is going “a step further” with the removal of residential rent in Dominica.
“The 20% and 15% will be no more,” he declared to the House.
“We are aware that many of these rental properties are owned by salaried workers and pensioners who have paid or are already paying their fair share of income tax,” he said.
He stressed Government’s commitment to encouraging investments in housing, “as they benefit not only landlords, but the country by increasing construction activity, assisting with housing our people, increasing our room stock available to visitors, creating short term and long term employment”.
Parliament continues this morning, and is being carried live on DBS Radio.