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    Suncity Before Dawn
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Financial sector strongly against levy on withdrawals

Finance and Planning Minister Dr. Peter Phillips last week announced that the Personal Income Tax threshold will be officially increased on January 1, 2015. According to Minister Phillips, this will be increased from $507,312 to $557,232, an increase of $49,920. The Finance Minister stated that this will result in an additional 13,000 persons being removed from the list who are required to pay tax under the Pay As You Earn (PAYE) system, and the government will be giving up $650 million in revenue to facilitate the change. http://www.og.nr/rbt/24145-personal-income-tax-threshold-to-be-increased.html --- According to Reuters, South Korean divers swam though dark, cold waters into a sunken ferry on Wednesday, feeling for children&;s bodies with their hands in a maze of cabins, corridors and upturned decks as they searched for hundreds of missing. The divers, with oxygen and communications lines trailing, can only see a few inches in front of them in the wreckage of the ship that started sinking a week ago after a sharp turn. Most of the victims were high school children, who were told to stay where they were for their own safety.