AI-assisted research summary: This Law updates several income tax allowance and exemption thresholds and changes the commencement date for a related GST amendment.
Finance (Budget – Cost of Living) (Jersey) Law 2022 Contents Article 1 Income Tax (Jersey) Law 1961 amended . 3 2 Article 92A (threshold for exemption from income tax) amended . 3 3 Article 92B (increase in exemption threshold for child day care) amended . 4 4 Article 95 (children) amended . 4 5 Article 98A (additional allowance in respect of children) . 4 6 Article 46 (citation and commencement) of the Finance (2022 Budget) (Jersey) Law 2022 amended 4 7 Citation and commencement . 4 Finance (Budget – Cost of Living) (Jersey) Law 2022 A LAW to amend the personal allowances and reliefs in the Income Tax (Jersey) Law 1961 and to amend the commencement of amendments to the Goods and Services Tax (Jersey) Law 2007 made in the Finance (2022 Budget) (Jersey) Law 2022 . Adopted by the States 21st September 2022 Sanctioned by Order of His Majesty in Council 9th November 2022 Registered by the Royal Court 18th November 2022 Coming into force 1st January 2023 THE STATES , subject to the sanction of His Most Excellent Majesty in Council, have adopted the following Law – 1 Income Tax (Jersey) Law 1961 amended Articles 2 to 5 amend the Income Tax (Jersey) Law 1961 . 2 Article 92A (threshold for exemption from income tax) amended In Article 92A – ( a ) in the following provisions for “£26,550” there is substituted “£29,750” – ( i ) paragraph (2), ( ii ) paragraph ( 2A ); ( b ) in the following provisions for “£6,550” there is substituted “£7,350” – ( i ) paragraph (4)( i ), ( ii ) paragraph ( 4 A )( i ); ( c ) in paragraph (6) for “£16,550” there is substituted “£18,550”. 3 Article 92B (increase in exemption threshold for child day care) amended In Article 92B – ( a ) in paragraph (1) – ( i ) in sub-paragraphs (c) and (d) for “£16,320” there is substituted “£18,300”, ( ii ) in sub-paragraph (e) for “£6,273” there is substituted “£7,050 ”; ( b ) in paragraph (5) in the definition “qualifying income” – ( i ) in sub-paragraph (a) for “£6,550” there is substituted “£7,350”, ( ii ) in sub-paragraph (b) for “£4,590” there is substituted “£5,150” . 4 Article 95 (children) amended In Article 95 in the following provisions for “£3,060” there is substituted “£3,450” – ( a ) paragraph (1 ); ( b ) paragraph (4). 5 Article 98A (additional allowance in respect of children) In Article 98A ( 1A ) for “£4,590” there is substituted “£5,150”. 6 Article 46 (citation and commencement) of the Finance (2022 Budget) (Jersey) Law 2022 amended In Article 46(2)(b) for “1st January 2023” there is substituted “1st July 2023”. 7 Citation and commencement This Law may be cited as the Finance (Budget – Cost of Living) (Jersey) Law 2022 and comes into force on 1st January 2023.