Sun | Jul 15, 2018

Support the small businessman with your tax break

Published:Thursday | July 28, 2016 | 12:00 AM


Generation 2000 (G2K), the young professional affiliate of the Jamaica Labour Party, is encouraging people to spend their tax break with "the small businessman". Pay As You Earn (PAYE)workers saw a bump on their paycheques from the recent income tax break. The much-needed relief came as a result of the JLP Government raising the income tax threshold to J$1 million.

"The Government worked hard to put money back in people's pockets. One responsible way to spend the extra cash is to support micro and small Jamaican businesses, especially those producing Jamaican goods. Every cent spent with a local tailor, a local dressmaker or a cookshop spreads the benefit and helps to stimulate the economy," said Stephen Edwards, G2K vice president.

Responsible spending on locally produced goods has one of the highest multiplier effects, which essentially increases the national income, and by extension creates jobs. Therefore, if Jamaica is to realise its full growth potential it is imperative that we all do our part by supporting small businesses and buying Jamaican.

Generation 2000 will be embarking on a growth awareness campaign, which will seek to define growth in the Jamaican context and inform the public about how each Jamaican citizen contribute to the national growth strategy.

Generation 2000 (G2K