EVERYTHING YOU NEED TO KNOW ABOUT NHT CONTRIBUTION IN JAMAICA | EP: 4
Vložit
- čas přidán 27. 06. 2020
- EVERYTHING YOU NEED TO KNOW ABOUT NHT CONTRIBUTION | EP: 4 #FIRSTTIMEBUYERSERIES
Hey Guys!
This video was requested by one of my subscribers, hey Tiffanie Williams ❤️
I hope this video answered your questions, if you have anymore be sure to drop them in the comments section.
FOLLOW ME ON IG: @_JAYXOS
NHT DETAILS
www.nht.gov.jm/contribution-p...
“ To become an Overseas Voluntary Contributor (you must be a permanent resident or a citizen of that country), you must first register with the NHT. To register, you must complete the “Voluntary Contributor’s Application Form” (correction fluid should NOT be used on the Form). Please note that, holders of work permit are not considered overseas voluntary contributors and should file their returns (SO4 & SO4A) at Tax Administration Jamaica (TAJ).
You will need to ensure that you register with the Tax Registration Centre to obtain a TRN, because this will be needed for the registration process. Once you have completed the application form you should come in for an interview (if you are unable to attend an interview then you will need to submit a letter of authorization for your representative/agent to act on your behalf, such letter should be signed, stamped and dated by a Notary Public or Justice of the Peace (J.P.).
The following documents are required in order to conduct your interview: -
Tax Registration Number (TRN) Card
National Insurance (NIS) Card
Valid (not expired) Photo Identification (such as National Identification, Driver's License or Passport)
Initial Monthly Payment- (3% of proposed monthly income stated on application form)
Proof of Overseas Residence- (Permanent Resident Card, Indefinite Card, Passport for Country of Residence)
Proof of Age- (Birth Certificate, Passport or Driver’s Licence)
Photocopies of any of these documents will need to be signed, stamped and dated by a Notary public (for overseas residents) or a Justice of the Peace (for local residents).
If you are acting on the behalf of someone as a representative, you will also need to present a letter of authorization, signed, stamped and dated by a Notary Public or Justice of the Peace (J.P.).
If you have never contributed to the NHT, your waiting time to access a benefit upon registering with the NHT is 2 years. However, please note that your monthly contributions must be made on time for the 12 months immediately preceding the date of your loan application. That is, your payments must be made before the 14th of the following month.
If you are a previous contributor and you desire to resume making your contributions to the Trust the waiting time is 1 year i.e. you must pay your monthly contributions on time for the 12 months immediately preceding your loan application. That is, your payments must be made before the 14th of the following month. It is not a requirement for you to pay up the first year in a lump sum payment but you can if you desire to do so. However you must wait the 2 years before making your application for a housing benefit if you are not a previous contributor to the Trust.”
So much knowledge! Thank you for helping out! I'm trying to move back to Jamaica to start an air b&b business as well and these pointers are really helping me out stuff in place for the future. Thank you! It's good to see other young people putting in the work to reach their goals!
Hello good day am living in the netherland have dutch passport also ja one as well how would that affect the tax system here in the netherland if i want to buy a house on nht in jamaica and would love to ask you many more question hope that i could contact you by email or telephone would be so greatful for some extra information
I currently have a loan with NHT. They are very dishonest and the interest is high. I paid 74000 towards my prncipal and NHT took over 400000 for interest and the remainder to my principal. I am current with my mortgage payment so the full amount should be put towards my principal. It is not as easy as you say because it appears as if you will never be able to finish paying them.
Awesome information
$1USD is $160.00
A god send u in a me life???? 🤦🏽♀️🤦🏽♀️ ty girl
You said something that isn't correct. When you have a joint mortgage (NHT + Bank) when you make your monthly payment they do not send NHT portion to them. What happens is that the bank actually buys the mortgage from the NHT the interest rate that they are offering the lender. For example: at 6.5 mill your Internet rate maybe 3% (this is based on how much you earn) then the bank will buy the 6.5 million dollars loan from the NHT at 3%. So you would only be paying back the mortgage to your bank.
What about overseas contributors ?
20,000 is 1 million in jamaica
Girl you have the information locked. Good job.
This was SOOOOO helpful!! So excited to start my process too. Thank you for sharing!
I have listen to sooooo many of this kind of video on housing purchasing and etc. But non as knowledgeable as your it's like they like to keep us guessing??but your video is crystal clear. Thank you soooo much. Keep up the good work.
Listen this was straight forward I really appreciate this a lot.
Love this video. I will def be re-watching since I desire to purchase in JA as a USA resident.
Very informative. Wanted information on how NHT works and your video definitely help. Thank you
Girl you read mi mind with this one🙌🏽
We stan! Thanks love! 🤗❤️
I love your videos very informative. Keep making these contents.
Great content, thank you for this information.
Well done. Very informative