Sinclair lauds $20,000 income tax giveback, rejects PNP criticism
Government Senator Charles Sinclair is welcoming as a good sign for Jamaica’s economy the announcement by Prime Minister Andrew Holness that his administration will be expanding the number of Jamaicans who benefit from the $20,000 income tax giveback initiative which has so far benefited nearly 300,000 Jamaicans.
The prime minister announced last week at the Jamaica Labour Party’s annual conference that the administration will put in place provisions to benefit more Jamaicans who are assessed and determine to be in need.
“Today, and going into the month of December it is expected approximately 500,000 taxpayers who earn three million or less will be the beneficiary of the reverse tax credit programme. So far 290,000 Jamaicans have benefited from this 20,000 give back to Jamaicans who qualify through this policy implemented by a caring government. It augurs well for our economy,” Sinclair told the Senate on Friday.
He noted that beneficiaries of the $20,000 cash return will likely be increased in January through February 2025 when the Ministry of Labour undertakes a survey of vulnerable groups including people on PATH and pensioners, and establish a need according to established criteria.
Sinclair also chided the Opposition PNP for its criticism of the administration’s income tax giveback policy.
The Opposition PNP has demanded clarity on the criteria for people to benefit from the initiative and described it as a vote buying ploy.
“The PNP spokespersons have come out strong in criticism. From their comments, they seem to suggest that the government should not implement the measure. Never in the history of Jamaica has a government given back taxes. This administration does not only talk about care. We are active and strong in showing we do care,” Sinclair said.
The Government Senator noted that the administration had pledged a few years ago to give back to Jamaicans after having achieved stability in the economy which is sustainable and has moved to keep its word.
Senator Sinclair reasoned that it is expected that the cumulative effect of the policies, including the income tax rebate, will have a positive effect on economic activity.
“It’s a win-win all around. Mr President, with inflation down to a three-year low of 4.9 per cent, coupled with the aforementioned benefits, Jamaicans will have more money in their pockets for their benefit. This administration is working for the greater good of all,” Sinclair said as he sought to assure Jamaicans that the Government is mindful of challenges faced by sections of the population.
