Finance minister says he will review tax measures

KINGSTON, Jamaica -- Minister of Finance Peter Phillips, while addressing a meeting with a number of trade union leaders Thursday morning, indicated that he will be "conducting a review of the announced revenue measures and will shortly announce if any adjustments will be made". A release from the ... Read more

Sport

Sports to benefit from performance-based bonus

Thursday, August 02, 2012    

Print this page Email A Friend!


JAMAICA'S sporting product is expected to benefit to the tune of US$1.7 million (J$146 million) from a luxury development in the upscale neighbourhood of Upton in St Ann.

The funds will come from proceeds from two developments entitled Upton Gold and Upton Worlds and the announcement made at a press conference at the Terra Nova All Suite Hotell

on Tuesday.

Construction on the 42 units is expected to begin on the project in early 2013 and money will be distributed to the bodies out of the first phase of the development.

Awards totalling US$800,000 from the Upton Worlds will be presented to gold medal winning performers from the Olympic Games in Beijing and London as well as the 2009 IAAF World Championships

in Berlin.

Of this figure, US$200,000 will be provided to the Ministry of Sports through the Sports Development Foundation via a memorandum of understanding; US$200,000 in incentives to the Jamaica Football Federation should the Reggae Boyz qualify for the 2014 World Cup in Brazil; US$150,000 in incentives for a world record in athletics in 2012; US$150,000 to the Jamaica Netball Association should Jamaica finish within the top three at the 2015 World Championships in Sydney, Australia in 2015; US$100,000 to the Jamaica Cricket Association for their five consecutive wins in the WICB Regional Four Day Championships, and US$50,000 to International Federation of Netball Association's president Molly Rhone, who is the only international president of a major sporting body.

In addition, four persons will also receive 25 per cent of the value of a unit in Upton Worlds, valued US$225,000 of which one will be a non-Jamaican with multiple

world records.

Owen Brodber, director of GR Developments, which is spearheading the project, told the Jamaica Observer that his company has had some influence in the persons selected to benefit.

"We have asked the ministry to benefit all of those who have got medals from the World Youth Games since 2010. We asked that Michael Holding, Courtney Walsh and Stafanie Taylor be part of the awards."

He explained that the island's abundance of talent could be used in a

similar fashion by other

local businesses.

"We are doing it to show other Jamaican businesses how we think they could leverage the superb performance of Jamaicans on the world scene to promote their products and services. Because we think it has been under-leveraged," he said.

"It's not that we are unmindful of the less fortunate in our society. Overall we consider them promotional parties. We want to use the achievements because we want to elevate Jamaica. We want when this thing goes out to the world we're using Jamaica's superlative performances in sport to project and promote the development and this is something that is becoming very inspirational."

Brodber said that other announcements of beneficiaries would be made at a later date.

ADVERTISEMENT

POST A COMMENT

HOUSE RULES

 

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT
ADVERTISEMENT

Poll

Will you close your bank account because of Government's tax on withdrawals?
Yes
No


View Results »


ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT