Finance Minister Explains New €1,000 ‘Super Bonus’ Proposal For Workers

Finance Minister Clyde Caruana released a new episode of the White Board Series, explaining the new €1,000 Super Bonus proposed by the Labour Government.

The Minister explained how Malta has around 175,000 people who are currently employed, paying through the following computations: single, married , married with 1 or 2 children, and parents of 1 or 2 children.

Outlining the tax brackets with a graph, he explained how those in the blue line, around 50,000 people, do not pay tax, whereas those in the yellow line, around 25,000 persons, pay 15% tax.

He explained that 43% of workers would not have benefitted or benefitted very little if the government continued to adapt the tax brackets in the usual way.

This is where the Super Bonus comes in, which would see all these workers, earning something, the Minister explained.

Those earning over €12,000 would receive €1,000 every year. Those earning less than €12,000 or are working part-time would be earning a bonus pro-rata but not less than €500.

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