Who is an Employer?
Under the National Housing Trust Act an Employer refers to any person who has in his/her employment a person who is required to make contributions pursuant to the Act (other than as a Voluntary Contributor).
What are the requirements?
The new registration process will be as follows:
01
Register
Visit the Companies Office of Jamaica (COJ) to register company with all relevant statutory organizations.
02
TRN and NIS
Upon registration with COJ, the new business' data will be routed electronically to TAJ and NIS, to create a TRN number and NIS.
03
NHT Account
This information will then be submitted electronically to the NHT and an account created. All this would be done automatically.
04
Finalize
Contact with the customer will be made by the NHT to carry out the necessary follow ups.
How are payments made?
As an Employer you must make payments of contributions due to the NHT on a monthly basis. All payments are made at Tax Administration Jamaica (TAJ) offices or TAJ online portal. Payments must be accompanied by completing a S01 form which is available on the TAJ website.
All payments due for a month are due by or before the 14th day of the following month.
If as an Employer an overpayment is made to the account of a Contributor, the overpaid amount can be deducted from subsequent payments within the same contribution year.
How are Annual Returns submitted?
The Annual Return, S02, (which should not be confused with Contribution Refunds) is the means by which the Employer accounts for statutory contributions paid by both the Employer and the Employees.
The Annual Return Form should be completed and submitted online on the TAJ portal by March 31 of the year following the year for which the return is being made.
What are the benefits of contributing?
There are several benefits that employers can reap by being compliant with the NHT. These include:
- Qualifies for tax exemption.
- Annual bonus for contributions paid between 1976 and 1979.
- Obtain a clearance letter or tax compliance certificate.
What are the penalties for not contributing?
Failure to make contribution payments will result in:
- 20% penalty charge per annum for late submissions of payment.
- 10% surcharge for delinquent payments on the penalty plus any arrears.
- Being fined for withholding information related to contributions or annual returns.
Clearance Letter/ Tax Compliance Certificate (TCC)
To obtain a Clearance Letter companies should visit one of our locations and speak with a Compliance Officer.
New employers will need to submit the following:
- Completed Employer Customer Information File (CIF) Form for registration
- Certificate of Incorporation
- Articles of Incorporation
- Clearance Letter from the NIS Office
- TRN Slip
Returning employers will need to submit the following:
- Outstanding Annual Return (if any)
EmployeR
Contributions FAQs
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