People earning $15,600 and less will not have to pay any tax. The threshold was $15,000 previously. Other tax brackets have also changed:
Nurses and doctors will get an additional three percent on top of this making their increase six percet.
Police officers will get 9 percent increase.
The Fiji Sugar Corporation will get $40 million with a promise of $700,000 worth of farming equipment and machinery.
Four key changes were made to the Fiji National Provident Fund pension scheme, including the introduction of the new FNPF Decree, which allows the regime to introduce a new age-based pension rate which starts March 1st 2012.
According to today's announcement there will also be top ups to pensioners who currently receive a monthly pension of below $100 while those with income between $100 and $300 per month 'will have their pension income protecte'
"If we do nothing now, the funds available to pay FNPF pensioners would only last until 2050, and threaten the stability of the national economy. These changes take into account the interest of all—existing pensioners, current and future members, FNPF and the nation. The fact that FNPF can offer these options, these top-ups, and these pension withdrawals demonstrates that FNPF is in a strong financial position. The reforms will make it even stronger."
Ministry of Information releases