Prime

Home buyers to get Sh3,750 monthly tax relief on mortgages

The relief is only applicable for single residential dwellings where the owner lives. PHOTO | FILE

Mortgage holders are set for a Sh3,750 additional relief on their monthly earnings after the law was amended to reduce their taxable income.

The Finance Act, 2016 says that the interest portion of mortgage repayments will be tax-free up to Sh25,000, up from the previous limit of Sh12,500.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. PRIME Regulator, Kenya Re clash over Sh3.3bn mystery ARM stake

  2. PRIME Google's Africa policy chief on regulating AI without stifling innovation

  3. PRIME Mombasa gets more visitors from Italy than Kisumu

  4. PRIME CBK inflation forecasts struggle to keep pace with price shocks

In the headlines

View All