What's New

Notes

Vacation allowance timing in a contract's first year. No vacation allowance is paid before a gratuity contract has started: in the year it starts, a vacation month before the start month pays nothing (the first is paid in that month of the next year, with the renewal), and a year before the start pays none. This holds for a contract starting in any month and any year. Only the year the allowance is paid in changes: the allowance, its tax and the typical-12-months figure are unchanged. The year's "paid to you" figure drops by that one allowance (after PAYE) in the contract's first year, and the difference is named in the typical-year breakdown. The default month is now the month the contract year ends (the month before the start month), which is where the owner's employer pays it; this is a labelled timing assumption, not a statutory rule.

Mortgage Interest Relief added to the tax rule set, for the Loan Calculator's home loans only: GRA's Mortgage Interest Relief Policy (published 2 Feb 2026) and Income Tax Act s.20A (revised 1 Apr 2026). Cap: housing mortgage principal not above G$30,000,000 (effective 2020-01-01), verified; who qualifies (first-time owner-occupier, resident, returns filed 8 years, licensed lender), verified. The estimate (interest paid in the year times the person's 25% or 35% tax rate) is derived: GRA publishes no formula, no limit on the number of years was found, and its treatment of top-ups and refinancing is not stated. Shown as a separate refund line, only after every criterion is confirmed, never subtracted from the bank instalment. Reports of June 2026 that the relief was "doubled" were not found in any Act, Gazette or GRA notice and are not applied. No pay or vehicle figure changed.