The 2025 Tax Relief provides teachers and nurses with an opportunity to reduce their monthly tax burdens. This relief is designed to ensure fairer taxation and to support professionals in their personal and financial obligations.
What is Tax Relief?
Tax relief is a reduction in the amount of tax owed by an individual or business, often granted to address specific financial circumstances, such as caring for elderly dependents, paying for children’s education, or being disabled. For instance, if a teacher with elderly dependents applies for tax relief, their taxable income may be reduced, resulting in lower monthly tax payments.
Steps to Apply for the 2025 Tax Relief
- Download the Tax Relief Form:
Obtain the relief form from the Ghana Revenue Authority (GRA) offices or download it here. - Fill Out the Form:
Accurately provide all required details. Ensure the information matches your personal circumstances. - Submit the Completed Form:
Deliver the form to the appropriate GRA office or submit it with the assistance of Sir Cris Education Consult (contact: +233592096377). - Wait for Approval:
Upon approval, your tax deductions will decrease, and the savings will be reflected on your payslip as a “Tax Relief Gain.”
Tax Relief Benefits
- Monthly savings ranging between GHS 50.00 and GHS 500.00.
- Tax deductions tailored to your personal and financial situation.
Factors Influencing Approval and Relief Amount
- Age of dependents (e.g., parents or elderly relatives).
- Disability status of the applicant or dependents.
- Educational expenses for children at the university level.
- Current tax deductions prior to the application.
Types of Tax Reliefs Available
Upfront Reliefs
- Marriage/Responsibility Relief:
Granted to individuals supporting a spouse or at least two children.
Amount: GHS 1,200/year. - Child Education Relief:
For parents paying school fees for up to three children in recognized institutions.
Amount: GHS 600/year per child. - Disability Relief:
For individuals with disabilities earning income from business or employment.
Amount: 25% of income. - Old Age Relief:
For individuals aged 60 and above.
Amount: GHS 1,500/year. - Aged Dependent Relative Relief:
For those supporting up to two elderly dependents (aged 60+).
Amount: GHS 1,000/year.
Other Reliefs
- Educational Relief:
For individuals undergoing professional, technical, or vocational training.
Amount: GHS 2,000/year. - Mortgage Relief:
For individuals paying mortgage interest on their primary residence.
Submission Deadlines
- November 15, 2024
- December 15, 2024
- January 3, 2025
- February 28, 2025
Contact for Assistance
For guidance and submission, contact Sir Cris Education Consult at +233592096377.
Take advantage of the 2025 Tax Relief to ease your financial burden and maximize your income!