Wed | Oct 18, 2017

Spend tax relief wisely Holness tells Jamaicans

Published:Friday | March 4, 2016 | 9:21 AM
Governor General Sir Patrick Allen loos on while Prime Minister Andrew Holness holds speaks at the swearing-in ceremony for the Prime Minister at Kings House yesterday.

Prime Minister Andrew Holness has encouraged Jamaicans to use wisely the tax break they will receive when the personal income tax threshold is increased.

Immediately following last Thursday’s general election Holness said his government was committed to implementing the election promise.

He repeated the commitment during yesterday’s swearing-in ceremony at King’s House.

Holness said adjusting the income tax threshold will help to boost the economic power of Jamaicans and the general wellbeing of the society.

The Prime Minister urged beneficiaries to use the savings to invest in their betterment and that of their families.

He also encouraged Jamaicans to support local goods and services asserting that this will help to boost sectors such as housing, manufacturing and agriculture. 

 

Prime Minister Andrew Holness

The Holness-led Jamaica Labour Party has promised to increase the income tax threshold to $1.5 million for people who earn up to that amount.

The current threshold is $592,800.

The party has said the move will put about $18,000 back into the pockets of approximately 200,000 Jamaicans.