December 2 Deadline for RITC Applications

Jamaicans earning $3 million or less annually who have not yet applied for the Government’s Reverse Income Tax Credit (RITC), are being reminded of the December 2, 2024 deadline to submit their applications.

Through the RITC, successful applicants will receive a one-time payment of $20,000.

Providing an update in the House of Representatives, today (November 26), Minister of Finance and the Public Service, Hon. Fayval Williams, said that by November 29, 2024, some 290,912 taxpayers will have received the payment.

This, she said, represents a payout of $5.8 billion and is a “first in Jamaica’s history.”

“Mr. Speaker, let me remind members of this Honourable House that eligible individuals who have not yet applied can still do so,” Mrs. Williams said.

To apply, applicants must have at hand their Taxpayer Registration Number (TRN), valid banking information, and telephone number or email address to complete and submit the online application via Tax Administration Jamaica’s website at: www.jamaicatax.gov.jm.

When the funds become available at the financial institution or remittance agency of choice, applicants will receive a notification via text message or email.

In the meantime, the Minister said that the Ministry of Labour and Social Security will “use their processes” to determine those Jamaicans who would be eligible for a different one-time payment of $20,000 (outside of the RITC), per a recent announcement by Prime Minister, Dr. the Most Hon. Andrew Holness.

This payment is intended to be made to Jamaicans 18 years and older who have not been captured under the Government’s We Care programme and who are not a part of any social intervention programme, such as the Programme of Advancement Through Health and Education (PATH) or the social pension programme for senior citizens.