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The government of St Lucia has released what it describes as good news for property owners.

According to the senior Communications Officer in the Office of the Prime Minister, Nicole Mcdonald, it is the continuation of the tax breaks promised by the United Workers Party government from its five to stay alive plan.

On Tuesday Parliament approved a three year tax exemption to owners of private residences from now till 2019.

Over eleven thousand home owners are expected to benefit from this initiative.

In addition to the tax exemptions on house and property tax, the parliament also approved the annual barrel concessions. Ms Mcdonald says it be activated much earlier this year, to facilitate a smoother processing time for the Customs Department.

The Christmas barrel concessions usually expire in February.

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