Harsher Penalties For Employers Who Fail To Submit NHT Payments


Cabinet has approved the National Housing Trust (Amendment) Bill, to impose new penalties on employers who fail to hand over payments deducted on behalf of the Trust.
The Bill, which is to be introduced in Parliament soon, increases the fine for breach of regulations under the Act from $5,000 to $30,000. It also provides the Finance Minister with the power to impose new penalties by Order, subject to affirmative resolution in the House of Representatives, where employers fail to submit mortgage payments deducted on behalf of the Trust or to remit employers’ or employees’ contributions to the Trust.
It also allows the Trust to disburse a sum of $50,000, up from $10,000, (without Letters of Administration) to beneficiaries of deceased contributors, or pay the funeral expenses, whichever is less.
Making the announcement at yesterday’s (Feb. 2) post Cabinet press briefing at Jamaica House, Information Minister, Senator Burchell Whiteman said: “The intention is to make a positive impact on those for whom the Trust was intended.”
“I am sure the penalties to any institution that fail to submit payments deducted on behalf of the Trust or to remit the employers’ or employees’ contribution will be welcomed, because the intention is always to protect the interest of those who contribute,” he emphasized.

JIS Social