Deadline to apply for payroll tax relief is tomorrow
The deadline to apply for the payroll tax rebate for workers earning less than $96,000 is tomorrow.
The one-time payment is available as per the Public Treasury (Administration and Payments) (Salary Based Benefit) Regulations 2022.
David Burt, the Premier and Minister of Finance, said that 75 per cent of the working population is eligible for a rebate, and urged anyone who has not yet applied to do so immediately.
“The process is easy,” he said.
Those employed or self-employed at any time between July 1, 2021 and June 30, 2022, can apply for the payment should they meet the salary requirements and other criteria in the regulations. Those earning less than $60,000 per year will receive $250 and those earning between $60,000 and less than $96,000 will receive $100.
Applications can be made online at economicrelief.gov.bm and payments will be made once all required information is submitted and processed.
The rebate may only be received based on the applicant’s principal job – that for which most of their earnings came from during the relevant period.
• Your social insurance number.
If you do not know your social insurance number, contact your employer in the first instance, as they should have it on file. If needed, you can obtain your number from the Department of Social Insurance at 294-9242 or e-mail email@example.com
• If you are self-employed, you will need your payroll tax ID issued by the Office of the Tax Commissioner.
• If you are an employee, you will need your employer’s contact information, including their e-mail address, so that they can provide a payroll tax ID and confirm your employment details.
•A scan or photo of government issued ID: driver’s license, passport or official work permit card.
•A scan, photo, PDF or screenshot of your bank statement that includes your name, address, full account number and the bank’s logo. Please cross out (redact) any dollar amounts.
A spokeswoman for the Cabinet Office said: “The Government has reduced the administrative burden on employers to ensure that the process is as smooth as possible. However, the employer has an active and critical role in supporting their employees’ applications once submitted. There will be an online landing page or e-mail alert for them separately to verify their employee’s details before being progressed for review.
“Additionally, taxi owners will need to provide a scan, photo, PDF or screenshot of Taxi Vehicle Registration to demonstrate they were owners having paid their flat rate of payroll tax fee as of June 30, 2022.
“Please note, per the regulations, a motor taxi owner who owns more than one taxi shall receive the benefit only for one taxi.
“Persons should triple-check that they provide the correct contact details for themselves and their employers and correct banking and personal details to avoid delays in verification and payment.“
Enquiries can be e-mailed to firstname.lastname@example.org