Nigeria | Why is National Housing Fund not included in gross income calculation for my employees over the age 60?
The Finance Act 2020 that has been signed
into law on 31st December 2020, included changes to Personal Income tax and
redefined gross income.
This influences the gross income on which the
consolidated relief was based. For employees age 60 years and older, NHF (which
is an allowable) will not be included in the gross income calculation, as they
no longer qualify for this calculation.