Subscribe Login
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
    • Home
    • News
      • Latest News
      • Cartoon
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • International
      • #
    • Business
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
    • Home
    • News
      • Latest News
      • Cartoon
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • International
      • #
    • Business
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
  • Home
  • News
  • Latest
  • Business
  • Cartoon
  • Games
  • Food Awards
  • Health
  • Entertainment
    • Bookends
  • Regional
  • Sports
    • Sports
    • World Cup
    • World Champs
    • Olympics
  • All Woman
  • Career & Education
  • Environment
  • Webinars
  • More
    • Football
    • Letters
    • Advertorial
    • Columns
    • Editorial
    • Supplements
  • Epaper
  • Classifieds
  • Design Week
News
BY ALICIA DUNKLEY Observer senior reporter dunkleya@jamaicaobserver.com  
June 5, 2012

NHT goodies – PM announces new housing benefits

Contributors to benefit from two-year tax holiday, reduced interest rates

PORTIA Simpson Miller yesterday pulled from the usual bag of goodies as previous prime ministers, using National Housing Trust (NHT) resources in an attempt to win back public support for her Government battered by claims of cruelty and callousness after imposing a $23-billion tax package, described as the largest ever, on the country.

Simpson Miller, in her contribution to the 2012/13 Budget Debate at Gordon House in downtown Kingston, announced several initiatives, including a two-year tax holiday for the National Housing Trust (NHT), which she said would enable the Trust to pass on more benefits to low-income earners and help the approximately 55 per cent of contributors who earn less than $10,000 per week.

“In order to facilitate the process, the Government has agreed to grant the NHT tax-free status in respect of General Consumption Tax (GCT), stamp duty, property tax and transfer tax for the next two years. The NHT will pass on this benefit, thereby enabling more affordable housing for that category of beneficiaries,” she told the Parliament.

Meanwhile, as of this month, grants to the tune of $1.2 million for each qualified applicant will be allocated daily on a first-come basis to qualified walk-in contributors. According to Simpson Miller, this is not a one-time arrangement and will remain in place for the foreseeable future. NHT Home Grant allocation for the last two quarters, ending December 2011 and March 2012, totalled $336 million and benefited 280 qualified applicants who earn $10,000 per week or less.

Yesterday, the prime minister said 10 per cent of the total home grants will be reserved for qualified applicants with disabilities.

And effective September 1 this year, contributors who qualify for loans at three per cent interest will now only repay at one per cent, while contributors who qualify for loans at five per cent will now pay only three per cent. These reduced rates will apply for three years.

Also effective on September 1, hotel workers who earn $10,000 per week or less and who apply for an NHT mortgage during the next three years will receive a one per cent reduction below the normal rate.

In the meantime, the one per cent interest rate reduction for public sector workers, which was originally due to expire on March 31 next year, has been extended to March 31, 2015.

Simpson Miller said the NHT is also to introduce a new Mortgage Partner Policy aimed at more affluent contributors.

“These are settled homeowners who typically do not apply for their refunds and who do not anticipate accessing a benefit from the NHT. They may, however, have a trusted friend, family member or caregiver or gardener, helper or staff member they would want to help. The mortgage partner will forego their NHT homeowner benefit but can qualify for a Home Improvement loan after 15 years,” the prime minister explained. The mortgage beneficiary who is assisted can also access a Home Grant, if eligible, to improve their affordability.

In the meantime, within the next two months, the NHT will be advertising three new developments for which subsidies will be announced in Clarendon, Manchester and St Thomas of some 918 solutions, 259 service lots and 140 service lots respectively.

In addition, $1.6 billion is to be allocated to the Jamaica Defence Force from the Trust to rebuild Lathbury Barracks at Up Park Camp, using its Engineering Battalion.

“A few weeks ago I visited with the very hard-working men and women in the Jamaica Defence Force at Up Park Camp,” she said. “As minister of defence, I toured a number of areas, including their living quarters, and Mr Speaker, I was most distressed to see the deplorable condition in which our soldiers are living.

“The soldiers defend our nation. This Government defends their right to better living conditions,” the prime minister said.

{"website":"website"}{"jamaica-observer":"Jamaica Observer"}
img img
0 Comments · Make a comment

ALSO ON JAMAICA OBSERVER

Caribbean Cement nears completion of Rockfort Mineral Bath upgrade
Latest News, News
Caribbean Cement nears completion of Rockfort Mineral Bath upgrade
May 15, 2025
KINGSTON, Jamaica- Caribbean Cement Company Limited (CCCL) says it is nearing completion of upgrades to the Rockfort Mineral Bath Complex (RMBC) in Ea...
{"jamaica-observer":"Jamaica Observer"}
Project STAR empowering residents through monthly community hub
Latest News, News
Project STAR empowering residents through monthly community hub
May 15, 2025
KINGSTON Jamaica- Job placements, bank accounts, and government support—all in one place. That’s what residents of East Downtown Kingston found at the...
{"jamaica-observer":"Jamaica Observer"}
Over 6, 000 St James residents to benefit from $520m water project
Latest News, News
Over 6, 000 St James residents to benefit from $520m water project
May 15, 2025
ST JAMES, Jamaica - More than 6,000 residents in the constituency of St James Southern are set to benefit from the $520 million Tangle River/Maroon To...
{"jamaica-observer":"Jamaica Observer"}
‘Climate change is an existential crisis’, says Paulwell
Latest News, News
‘Climate change is an existential crisis’, says Paulwell
May 15, 2025
KINGSTON, Jamaica— Opposition spokesman Phillip Paulwell has warned that “climate change is the single greatest threat to the future of humanity” and ...
{"jamaica-observer":"Jamaica Observer"}
Pizza Hut recognises educators with Teachers’ Day tribute
Latest News, News
Pizza Hut recognises educators with Teachers’ Day tribute
May 15, 2025
ST ANN, Jamaica-Teachers of Ocho Rios and Breadnut primary schools in St Ann were presented with gift packages in recognition of their unwavering dedi...
{"jamaica-observer":"Jamaica Observer"}
Fraser-Pryce admits family balance hard to maintain
International News, Latest News
Fraser-Pryce admits family balance hard to maintain
May 15, 2025
Paris, France (AFP)-Shelly-Ann Fraser-Pryce, the most decorated woman sprinter in history, admitted on Thursday she finds it increasingly challenging ...
{"jamaica-observer":"Jamaica Observer"}
Flow inspires communication and marketing students at BrandCamp
Latest News, News
Flow inspires communication and marketing students at BrandCamp
May 14, 2025
KINGSTON, Jamaica — Marketing strategy and creativity was on full display at BrandCamp last Wednesday as Flow’s Head of Marketing, Latoy Lawrence, too...
{"jamaica-observer":"Jamaica Observer"}
Ras Emmanuel teams with Little Robert in tribute to Rastafari
Entertainment, Latest News
Ras Emmanuel teams with Little Robert in tribute to Rastafari
May 14, 2025
Longtime friends and fellow roots artistes Ras Emmanuel and Little Robert pay tribute to their Rastafari faith on Jah A My Provider , a song co-produc...
{"jamaica-observer":"Jamaica Observer"}
❮ ❯

Polls

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

Recent Posts

Archives

Facebook
Twitter
Instagram
Tweets

Polls

Recent Posts

Archives

Logo Jamaica Observer
Breaking news from the premier Jamaican newspaper, the Jamaica Observer. Follow Jamaican news online for free and stay informed on what's happening in the Caribbean
Featured Tags
  • Editorial
  • Columns
  • Health
  • Auto
  • Business
  • Letters
  • Page2
  • Football
Categories
  • Business
  • Politics
  • Entertainment
  • Page2
  • Business
  • Politics
  • Entertainment
  • Page2
Ads
img
Jamaica Observer, © All Rights Reserved
  • Home
  • Contact Us
  • RSS Feeds
  • Feedback
  • Privacy Policy
  • Editorial Code of Conduct