Dear Editor,

I am a young investor, still in high school right now, who is utilising the stock exchange to grow my own personal wealth.

I got my first dividend cheque in September and saw that there was a 15 per cent tax deduction on it. I wasn’t so startled since it was a low amount of tax.

I collect two more dividend cheques this month, same 15 per cent tax, with the notation, “Before depositing cheque, kindly detach and return this certificate for income tax purposes.”

I was wondering why I would need to report to the Tax Administration Jamaica (TAJ) when I am currently not working in a job that has an income tax requirement.

I then went on to TAJ’s website, where I saw a form talking about tax and dividends. I was unable to properly understand what it meant. So, I am asking, what are the requirements for those who are not working in an income taxable job who want to know if they will not be required to pay these taxes on dividends?

Also, can I claim for the tax that was taken from the cheque?

David Rose

jcbusdar@gmail.com