Paying taxes in Jamaica is an extreme sport. Trying to find digestible information on the increase in the NIS insurable wage ceiling is near to impossible.
Something that affects thousands of Jamaicans and no announcement on it. I only found this (pg 2) https://japarliament.gov.jm/attachments/article/339/The%20National%20Insurance%20(Validation,%20Indemnification%20and%20Amendment)%20Act,%202020.pdf

The TAJ website also had nothing that I could find. The information here https://www.jamaicatax.gov.jm/documents/10181/106853/employer+employee+05042018.pdf/f5ae5f1e-2a85-4583-701f-e3a0a82134a2 says the NIS rate its 2.5% when it has gone up twice since.

Anyways let me break it down for you (a thread).

If you see NIS being deducted from your gross pay, as of April 2021 expect to see an increase in the amount being deducted IF you earn more than the tax threshold of $125,000 a month.

More of your gross pay will go towards NIS as the insurable wage ceiling has increased to $3M

What does an increase in the insurable wage ceiling mean? It means that the max. amount that is paid to NIS has doubled from $3750 to $7500 per month.

NIS is currently 3% of income up to the max of $7,500. 3% is also paid by your employer.

So if you earn more than $125k per month in gross income, then as of April 2021 your NET income will decline (by a little).

The amount your net income declines by depends on your gross income. I did a little table here to summarize it....

If you earn less than $500k and more than $250k per month it will decline by $2,728 & if you earn over $507,500 then it will decrease by $2,540. Otherwise it varies.

Check out my Net Pay Calculator here http://financialcentsibility.com/calculators/  to calculate exactly how much your Net Pay will change by because of the change to the NIS insurable wage ceiling.

It will change again in April 2022.

Realised this didn't show in dark mode:

Change in your Net Pay as a result of the Increase in Insurable Wage Ceiling.