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Homebuyers financed by saccos to get tax relief up to Sh25,000
National Treasury Principal Secretary Dr Chris Kiptoo (left), Cabinet Secretary for Cooperatives and Micro and Small Enterprise Simon Chelugui at the National Treasury building Nairobi on Wednesday, March 15, 2023, during the unveiling of Kenya national Entrepreneurs Savings Trust (KNEST) first board of Trustees. PHOTO | DENNIS ONSONGO | NMG
First-time homebuyers funded by savings and credit cooperative societies (saccos) will from July get a tax relief of up to Sh25,000 on their monthly salary in a proposed plan to amend the law by the Co-operatives ministry.
Co-operatives Cabinet Secretary Simon Chelugui has pledged to push through the amendment to the Income Tax Act to extend mortgage reliefs to members of saccos who get loans to improve, build or buy homes for their own use.
