Landlords are now required to remit 1.5 per cent of their gross rental income starting May 9. KRA noted that the Affordable Housing Act 2024 introduced the Affordable Housing Levy for all persons. The Authority is the designated collector of the Affordable Housing Levy. The Affordable Housing Act also introduced a 1.5 per cent levy on the gross salary of each employee or an individual’s received or accrued gross income not subject to the Levy. According to the Authority, the employer's contribution to the Affordable Housing Levy is an allowable deduction under Section 15 of the Income Tax Act.
