Calculating Payroll Tax for the period April 1, 2024 – March 31, 2025

Payroll Tax Amendments for 2024

The budget statement which was read on Friday, February 16th, 2024, by the Premier and Finance Minister, the Hon. David Burt, JP, MP included the following amendments to the Payroll Tax Act 1995.

New Hire Relief: 2024 

The New Hire Relief of 2024 repeals and replaces the relief granted in both 2018 and 2020. The 2024 New Hire Relief is offered to:

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Calculating Payroll Tax for the period April 1, 2023 – March 31, 2024

Payroll Tax Amendments for 2023

The budget statement delivered on Friday, February 17th, 2023 by the Premier and Finance Minister, the Hon. David Burt, JP, MP resulted in the following amendments to Payroll Tax with effect from April 1, 2023. 

To see how this impacts the employee portion, this simple tool generates a payroll tax estimate for year 2022/23 versus 2023/24. It is an estimate for illustration purposes only: Payroll Tax Estimate 

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Calculating Payroll Tax for the period April 1, 2022 – March 31, 2023

Payroll Tax Amendments for 2022

The budget statement delivered on Friday, February 25, 2022 by the Premier and Finance Minister, the Hon. David Burt, JP, MP resulted in the following amendments to Payroll Tax. 

New Hire Relief

The New Hire tax incentives offered in 2018 and again in 2020 have been extended through to March 31, 2024.   

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Enhancements to the E-Tax system

The Office of the Tax Commissioner advises that the E-Tax system has been enhanced to enable tax payers to use their VISA, MASTERCARD and AMERICAN EXPRESS for the payment of payroll tax.

This enhancement has been provided to give tax payers more payment options using the E-Tax system which removes the need for tax payers to wait in line.

The E-Tax facility is convenient, reliable and can be accessed 24/7 via the Government Portal or directly at www.etax.gov.bm

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