How will taxes and fees rise in 2010/11?
• Employers and employees will pay an additional dollar of tax per every $100 of taxable remuneration.
• High earners will have to pay tax on their salaries up to $750,000 — it was previously tax-free after the first $350,000.
• The payroll tax hike will provide Government with $427 million in revenue, compared to $355 million last year.
• Foreign currency purchase tax will double. It is expected to yield $29 million for Government this year, compared to $14.5 million last year.
• Government fees for "an array of public services" will go up by three percent.
• Motor vehicle licences will rise by five percent.
• Stamp duty on estates will increase.
And fall or stay the same?
• Retailers will pay reduced payroll tax for January, February and March.
• Duty relief will be expanded on certified energy efficient products.
l Taxi owners, drivers and dispatchers will get a rebate on payroll tax.
l The payroll tax exemption for trainees, interns and apprentices remains.
l Payroll tax relief will stay in place for the hotel and restaurant sector.
l Fuel concession for diesel for commercial fishermen will be extended to March 2012 — and will now include gasoline.
• Bus and ferry fares will stay the same, as will passenger tax, hotel occupancy tax and company licence fees.
