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Pensioners

Pensioners & Land Tax

Frequently Asked Questions – Pensioners landt-01

Q: How does a Taxpayer qualify for the Pensioner Rebate?

A: The taxpayer must satisfy all of the following conditions;

    1. The individual must be sixty years or over and the Owner of the property, and;

    2. The individual must be in receipt of a pension at the 1st of April for the year to which it applies, and;

    3. The individual must be normally resident in Barbados for at least 180 consecutive days in a calendar year.

The Taxpayer is only entitled to this benefit for one residence only.  In addition, a Barbados Identification Card or Barbados Passport, and a pension voucher or certificate of eligibility from Pension Plan Administrator must be presented.

For further information, please visit http://www.landtax.gov.bb/faqs.html

Note 2

A pensioner shall pay tax at the rate specified but the actual amount payable shall be 40% of the tax demanded, but no such reduction shall be permitted unless the land in respect of which the tax is levied is owned by the pensioner and has a dwelling house thereon; and the dwelling house is used exclusively by the pensioner and his immediate family for their permanent habitation.

DEPARTMENT OF INLAND REVENUE
Declaration by Pensioners 60 years and over residing in Barbados (For purposes of avoiding tax being withheld from interest income)