2024 Budget Impact

Analysis of how the 2024 government budget affects Jamaican workers and taxpayers

Budget 2024

J$20,000 Reverse Tax Credit: Who Qualifies and How to Claim It

The government's new reverse tax credit gives J$20,000 cash to 570,000 taxpayers earning under J$3 million annually. Here's everything you need to know about eligibility and application.

💰 Revolutionary Cash Back Program

For the first time in Jamaica's history, the government is giving cash directly to working taxpayers through the reverse tax credit program, launched as part of the 2024 budget.

Program Overview:
  • Amount: J$20,000 per eligible taxpayer
  • Beneficiaries: 570,000 workers
  • Income Limit: Under J$3 million annually
  • Total Cost: J$11.4 billion
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Current Tax Rates 2025
Tax Threshold: J$1.7M
PAYE Rate: 25%/30%
NHT: 2%
NIS: 3%
Education Tax: 2.25%