The financial resources of the Trust are made possible by the HEART Act of 1982, which imposes a levy on employers whose total gross taxable monthly payments of emoluments to employees exceeds $14,444 (J).
The Compliance and Finance departments of HEART Trust, the National Training Agency monitor and manage the collection of these funds which are paid into the 28 Inland Revenue Collectorates island wide. The payments are deposited directly into the HEART Trust Fund and are managed entirely by the HEART Trust.
The Compliance and Remittance department continuously conducts audits and assessments of employers to increase the number of employers contributing to this fund annually, thereby ensuring that training is always available to an increasing number of Jamaicans. The levy is calculated at 3% of monthly taxable salaries or wages paid to employees and is due by the 14th of each month for the month preceding. For example, the contribution for the month of June should be paid in by July 14th.
The department makes available a compliance brochure outlining guidelines for determining the contribution and for payment.
HEART Trust also plays a key role in ensuring that the employers make all statutory payments by requiring that all entities hold a valid Tax Compliance Certificate before conducting business with them.