The Finance Minister of Chile proposed a new bill on November 8, 2013 for limiting the amount of tax payable for senior citizens with low incomes. The measure is taken to help the poorer people of this nation. The bill states that if an individual has property less than 100 million pesos or USD 192,629, he/ she has to pay maximum 10% tax on his / her annual income. To take this advantage a woman has to be at least 60 years old whereas age limit for man is 65 years. The Government is expecting around 60% of senior citizens to be benefited by this bill. The bill is yet to be submitted to Congress for approval.