Saint Lucia

Individual - Deductions

Last reviewed - 29 January 2021

Employment expenses

Employees may deduct expenses incurred wholly and exclusively in the performance of the duties of their employment, but only to the extent that these expenses are not reimbursed by the employer.

Personal allowances and deductions

In determining chargeable income, a resident individual, upon due claim, is allowed the following deductions:

Allowances and deductions XCD
Personal allowance 18,000
Personal allowance (pensioners) 24,000
Spouse allowance (1) 1,500
Maintenance or alimony (under court order) Actual
Child allowances 1,000 to 2,000
Deduction for higher education 5,000
Deduction for life insurance, other retirement benefits:  
Premiums paid in Saint Lucia (2) 8,000
Premiums paid outside Saint Lucia (3) 3,000
Allowance for housekeeper (maintenance or relative) 200
Allowance for dependent relative 350
Owner-occupied property:  
Mortgage interest (maximum) (4) 18,000
Property taxes Actual
Insurance premiums Actual
Upkeep and maintenance Up to 10,000
Purchase and installation of a new solar water heating system Up to 6,500
Donations to charitable, religious, educational institutions (under deed of covenant for at least three years) (5) Actual
Medical expenses (6) Actual
Purchase of shares in building or cooperative societies Up to 5,000
Investment in a Registered Home Ownership Plan Up to 6,000
Interest on a student loan Up to 3,000
Purchase of new shares in a resident public company Up to 5,000

Notes

  1. Reduced dollar-for-dollar to the extent the spouse's assessable income exceeds XCD 1,500.
  2. A maximum of 10% of assessable income to a maximum of XCD 8,000.
  3. 50% of the premium, but limited to the higher of 5% of assessable income or XCD 3,000.
  4. The deduction allowable for first-time homeowners with respect to interest upon money borrowed and applied for the acquisition or construction of an owner-occupied dwelling house during the period 1 January 2009 to 31 December 2010 must not exceed XCD 20,000.
  5. Actual, but may not exceed 25% of assessable income.
  6. Standard deduction of XCD 400 if no actual expenditure.