Increase For Pensioners At €780 Per Year

Oct 30 2023

During the unveiling of Budget 2024, Finance Minister Clyde Caruana revealed that pensioners will be receiving another increase when it comes to cost of living.

All pensioners will be receiving an increase of €15 per week, or €780 per year, making it the biggest increase that pensioners have received in one year.

The increase will apply to pensioners in retirement, those who lost their spouses, those of invalid pension and those who receive an age pension.

The Minister also revealed that, in 2006, the government had split pensioners between those born before 1962 and those after.

Pensioners born before the aforementioned date had a guaranteed increase to address the cost of living. Those born after the date had a mechanism introduced which would see an increase: 70% of which is based on salary increase and 30% based on inflation.

The current government pledges that, as of next year, the mechanism applied to those born in or after 1962, will also apply to those born prior.

The government will also be introducing exemptions from tax for those over the age of 61 years. As of next year, the pension for widows will no longer be taxable for those who have not yet reached 61 years of age.

#MaltaDaily

Energy Will Continue To Be Subsidised, Minister Reveals

Lower Energy Bills For 2024, Minister Promises

Oct 30 2023

During the unveiling of Budget 2024, Finance Minister Clyde Caruana revealed that at the cost of another €350 million for Malta, energy will continue to be subsided.

Energy subsidies when it comes to electricity and fuel will be granted, €320 million will be spent by the government, with the total amount climbing up to €350 million.

The Minister highlighted how never in history has there been such a large boost on fuels. Every €5 out of €100 spent by the government will be used to subsidise energy. This makes it the most important measure, the Minister emphasised.

A business in Malta is paying 20c a unit. Compared to Italy or Germany, a unit costs approximately 40c. If these subsidies are not issued, the government forecasts that it will wreck the finances of most businesses.

Meanwhile, a middle income family in possession of 2 cars with a normal consumption of electricity and water will be saving €1,300 yearly on fuel and €700 on electricity.

Minister Caruana also highlighted that there won’t be a tax cut on COLA increase, but the government will help through subsidies aforementioned.

#MaltaDaily

First Official Look At Finance Minister Ahead Of Budget

Oct 30 2023

Minister for Finance and Employment Clyde Caruana at his office with the Budget 2024 publications in hand moments before he leaves to meet the President and then onto the House of Representatives.

#MaltaDaily

7 Reasons Why Real Estate Makes the Perfect Field for Sports Enthusiasts

Oct 30 2023

When it comes to top-performing property consultants, individuals with sporting backgrounds are very prevalent and this enduring connection has proven itself over time. Athletes bring a unique set of qualities that give them a distinct advantage and working for an exceptional real estate company can be as exhilarating as being on the field or track. The similarities between real estate and sports are often striking:

1. Athletes are accustomed to constant competition and driven by unwavering determination: Their innate ability to navigate and excel in intricate, challenging deals and tough negotiations is a valuable asset. Endurance is a prized quality, especially when diligent efforts don’t always yield the desired results. Athletes are resilient: setbacks are seen as opportunities to improve and better prepare for the future, so challenges are merely temporary setbacks that fuel a will to succeed.

2. Athletes deal well with stress: Paula Dandria from Frank Salt Real Estate’s Sliema Letting branch serves as a prime example. As an accomplished salesperson with extensive international sales experience, Paula stays fit through activities like kickboxing and walking, sharing, “I feel I can conquer any challenge that comes my way. If I ever have a stressful day, I beat the hell out of the punching bag and that release of pent-up energy and frustration is a wonderful feeling.”

3. Athletes possess a natural inclination for competitiveness due to their experience in fast-paced environments. This quality makes them well-suited for the highly competitive field of real estate. Their continuous drive for self-improvement and resilience are invaluable traits in a profession that demands persistence and adaptability.

4. Athletes are excellent at multi-tasking: Consider Jake Taliana, a senior property letting consultant at Frank Salt Real Estate’s St. Julian’s Letting Branch. Despite being one of the company’s top performers, Jake also manages to play football as a goalkeeper for Qrendi. He explains, “Being part of a team motivates me immensely and exercise keeps me mentally sharp.”

5. Pressure is no obstacle: Jadon Zammit from Mellieha Letting is a fitness enthusiast in his early twenties and also studies architecture at university. He sees sports and staying active as a mentor, saying, “Sports primes you to be durable and consistent and to work interdependently, which are traits that I use in my everyday life. You learn all the time and the more you push yourself, the better you become. This goes for business as well.”

6. Athletes also possess innate negotiation skills as they excel in reading people and understanding their needs. These abilities are invaluable assets for any agent. A capacity to build strong relationships stemming from years spent in team environments and interacting with fans allows athletes to connect effortlessly with everyone.

7. A skillset enhanced by a clear mind: Ian Laferla, a member of Frank Salt Real Estate’s team for almost two decades, progressed from being a salesperson to a branch manager at the Sliema offices. He combines his passion for kayaking with his career and finds that kayaking provides mental clarity for the week ahead. “I also value the ongoing training provided by the company: it keeps me updated with industry trends and best practices. Successful agents are strong at communication and interpersonal skills, have excellent negotiation proficiency and a deep market understanding. You also need financial literacy, adaptability to changing market conditions, organisational skills and you have to pay attention to the smallest of details”, Ian stated.

Douglas Salt, director of Frank Salt Real Estate, acknowledges: “Professional athletes who join the company often become real estate superstars. Athletes excel in marketing themselves, their teams and the brand they represent, a crucial skill in the highly competitive real estate market.” Mandy Zaffarese, HR manager for Frank Salt Real Estate, had this to say: “Many athletes are natural extroverts and are programmed to be fearless. These are qualities that push boundaries and motivate other members of the sales teams.”

If you’re intrigued by the parallels between sports and the real estate industry and aspire to explore the remarkable potential of a real estate career, we encourage you to connect with us. Discover how your competitive spirit can lead you to a prosperous and fulfilling career in real estate by reaching out to Frank Salt Real Estate. Visit www.franksalt.com.mt/befrank to learn more.

#MaltaDaily