On passing of the amendment of The Income Tax Act, the personal income tax bands and rates for resident individuals have been revised as provided below
|Chargeable income (GHS)||Cumulative chargeable income (GHS)||Rate of tax|
The personal reliefs available to resident individuals have been revised. Please refer the below list of changes:
|Description of relief||New personal relief per annum (GHS)|
|Dependent spouse or at least 2 dependent children||1,200|
|Individual with a disability||25% of assessable income from business or employment|
|Individual who is 60 years and above||1,500|
|Individual sponsoring education of child or ward1,3||600|
|Dependent relative who is 60 years and above, other than a child or spouse2,3||1,000|
|Training to update the professional, technical or vocational skills or knowledge4||2,000|
1The amount is for child or ward education in a recognized registered educational institution in Ghana and available per child or ward up to a maximum of 3 children or wards
2The amount available is for dependent relatives up to a maximum of 2 dependent relatives.
3Where two or more persons qualify for the relief in respect of the same child, ward, or relative, the Commissioner-General shall grant only one relief.
4This is the maximum cost of training available as a relief.