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Hope reverse income tax credit not a one-off thing
Letters
October 30, 2024

Hope reverse income tax credit not a one-off thing

Dear Editor,

Twenty thousand dollars is not a lot of money but, when you didn’t have it, it sure fills a necessary gap.

I wish it were more! I have many things that I can do with it — I’m sure most of us.

At the first sound of this move by the Government to “sweet us up”, I thought I did not qualify, and then wisdom caused me to pursue it further and recognised I was in for some of the goodies. I was excited!

But, with reality and good reason, my thrills became chills. Good sense chipped in and I pondered how lasting will the impact of this one-off payment be? What happens next year and beyond? What is more important to me, at this point, is to know what the Government’s plan is, and whether or not this exists in a vacuum, in isolation, or if there’s a broader scope in which this pay-out fits. In layman’s terms, what will we get next year? What is the plan?

This reverse income tax credit begs for an initiative and not a one-off activity. The Government calls their move an initiative, but it’s really not until we get a clear policy framework in which this is a part of a greater plan.

I hope that I am articulating clearly the views of well-thinking Jamaicans who not only want a short-term, one-time programme with no continuity and sustainability, but a plan to enrich the financial landscape by granting hard-working Jamaicans a rhythmic income tax refund.

With inflation climbing through the roof and prices for consumer goods sky-rocketing, the Government’s financial team needs to put this $20,000 in a better package.

Is could follow suit with what exists with the contribution refunds associated with National Housing Trust (NHT) refunds? This is a clear policy position. At the end of every seven years, working Jamaicans can look forward to a refund of their housing contribution with interest. Obviously, I am very impressed with this carefully crafted policy.

So, Mr Prime Minister, we beg for some clear direction in this regard.

 

Marie Henry

Bchild862@gmail.com

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