Our Scans · (FS.6.04) Individual Tax Liabilities · Weekly Summary

• [New] The income tax relief enacted by Iowa legislators and Governor Reynolds, in addition to allowing individuals and families to keep more of their paychecks, will yield significant savings for small businesses, the majority of which file under the personal income tax system. Forbes
• [New] The personal income tax credit for solar power is raised to 30% and extended by 10 years, with stepdown beginning in 2033. Solar Power World
• The PBO says if Australia had an EET model, like other OECD countries, withdrawal taxes could be aligned with the personal income tax system to ensure consistency (Australia's age pension is already progressive through means testing). ABC News
• New York City's ultra-high earners will soon have to pay a top marginal income tax rate of nearly 52%, the highest personal income tax hit in the U.S. CBS News
• The personal income tax increases in Biden's campaign plan would raise $162 billion in 2022, while repealing the SALT cap would cost about $100 billion. TheHill
• California drew in 11% less in personal income tax revenue than it expected so far in 2022, the latest warning sign for the finances of a state whose fortunes are closely tied to the performance of markets. Accounting Today
• The personal income tax exemption of 50% will be expanded to cover new Cyprus tax resident employees with salaried income of €55,000 or more. BDO in CYPRUS

Last updated: 04 November 2025