November is the last calm month before the busiest stretch of the Jamaican business year. Corporate gift orders, Grand Market, extra staff and the bills that arrive in January all compete for your attention. The decisions you make in the next few weeks decide whether December leaves you with profit or with a headache. This checklist covers stock, cash, seasonal workers, Christmas bonuses, GCT and the deadlines waiting on the other side of New Year.
In This Guide:
Why November Is Your Planning Month
December demand arrives all at once. Retailers, bakeries, caterers, salons, printers, couriers and many service firms see weeks of extra orders squeezed into a short window. Your suppliers are busy at the same time. Shipments slow down near the holidays, wholesalers run short of popular lines, and staff want time with family. Planning in November gives you room to act while everyone else is still waiting.
There is a second reason to plan now. The money you earn in December comes with obligations attached. Statutory deductions for extra staff, GCT on your sales and the tax season that starts in the new year all draw on December's takings. Businesses that treat every December dollar as profit often find January very hard.
Stock and Suppliers: Order Early, Order Smart
Start with what happened last December. Which items sold out by the middle of the month? Which ones were still on the shelf in January? Your own sales history is the best forecast you have, even if it lives in a notebook or a spreadsheet.
- Review last year's sales. List your top sellers and your slow movers. Order more of the first group and less of the second.
- Talk to suppliers now. Confirm lead times, the last order date before Christmas and the dates they close for the holidays.
- Agree payment terms in writing. If a supplier offers 30 days, get it on the invoice or in an email so there is no confusion in January.
- Allow for shipping delays. Imported goods can sit at the port longer at the end of the year. Build in a buffer of at least a week or two.
- Set a stock limit you can afford. Decide the most you will spend on Christmas stock before you start ordering, then stick to it.
Stock that does not sell is cash you cannot use. If you plan to spend J$800,000 on Christmas inventory, ask how much of it must sell before you can cover wages, rent and supplier bills. If the answer is "almost all of it", scale the order back or negotiate smaller deliveries spread across the month.
Build a Christmas Cash Flow Plan
Sales make you feel busy, but cash keeps you open. A simple week-by-week plan shows you when money comes in and when it must go out. Here is an example layout for a small business with two seasonal workers. Replace the numbers with your own.
| Item | When it is paid | Example amount (JMD) |
|---|---|---|
| Christmas stock | November and early December | 800,000 |
| Seasonal wages | Weekly or fortnightly in December | 240,000 |
| Statutory deductions on December pay | By 14 January | Calculate from your payroll |
| GCT collected on December sales | By the end of January | 15% of taxable sales |
| Rent, utilities, security | As usual | Your normal monthly figure |
| Owner's drawings and staff bonuses | Late December | Decide in advance |
The January trap
The GCT you collect in December and the statutory deductions on December wages are paid in January, which is usually a slow month for sales. Move that money into a separate account as it comes in, so it is there when it falls due.
Corporate Christmas orders deserve special care. Ask for a deposit before you buy materials, often half of the order value for large or custom jobs. Invoice on the day you deliver, not after the holidays. Many companies close their accounts payable early in December, and an invoice that arrives late may not be paid until the middle of January.
Hiring Seasonal Staff the Right Way
A worker hired for six weeks is still an employee. If you set their hours, supervise their work and provide the tools, they are almost certainly your employee and not an independent contractor. That means the normal payroll rules apply. Ask each new worker for their TRN and NIS number before their first pay day.
These are the main statutory deductions Jamaican employers deal with:
| Deduction | Employee | Employer | Notes |
|---|---|---|---|
| NIS | 3% | 3% | On gross pay, up to the annual wage ceiling |
| NHT | 2% | 3% | On gross pay |
| Education Tax | 2.25% | 3.5% | On statutory income (gross pay less NIS and approved pension contributions) |
| HEART/NSTA Trust | None | 3% | Paid by the employer only |
| PAYE income tax | 25%, or 30% on the portion above J$6 million a year | None | On statutory income above the tax-free threshold |
Resist the temptation to pay seasonal staff cash with nothing recorded. It may look simpler in December, but unrecorded wages create problems when you apply for a Tax Compliance Certificate, a loan from a DBJ-approved lender or a government contract. A clean payroll record protects you as much as it protects your workers. For more detail, read the employer guide to statutory deductions on this blog.
Christmas Bonuses and Holiday Pay
A Christmas bonus is a generous gesture, and it is also taxable pay. Bonuses are subject to PAYE and the statutory deductions in the same way as regular wages. Budget for the full cost, not just the amount that goes to the employee.
Here is an illustration for a J$50,000 bonus paid to an employee who is below the NIS ceiling and already above the income tax threshold:
| Line | Employee side (JMD) | Employer side (JMD) |
|---|---|---|
| Gross bonus | 50,000.00 | 50,000.00 |
| NIS (3%) | -1,500.00 | +1,500.00 |
| NHT (2% / 3%) | -1,000.00 | +1,500.00 |
| Education Tax (2.25% / 3.5% of J$48,500) | -1,091.25 | +1,697.50 |
| HEART/NSTA Trust (3%) | None | +1,500.00 |
| PAYE (25% of J$48,500) | -12,125.00 | None |
| Result | Net to employee: 34,283.75 | Total cost: 56,197.50 |
In this example the bonus costs the business more than J$56,000 while the employee takes home about J$34,000. Knowing that in advance helps you set a bonus you can afford and explain it clearly to your team.
Christmas Day (25 December) and Boxing Day (26 December) are public holidays, and so is New Year's Day. Employees who work on a public holiday are generally entitled to a higher rate of pay, commonly double time. Confirm the current rules with the Ministry of Labour and Social Security and put your holiday roster in writing early so nobody is surprised.
GCT and Holiday Pricing
If your business is registered for GCT, you charge the standard rate of 15% on taxable goods and services. Some items are zero-rated or exempt, so check how your products are treated. If you are close to the registration threshold, check TAJ's current figure, because a strong December can push your annual sales over it.
Decide whether your shelf prices include GCT and apply the same rule everywhere. Mixing GCT-inclusive and GCT-exclusive prices confuses customers and causes errors at the till. A simple example: an item priced at J$4,000 before tax carries J$600 GCT, for a total of J$4,600. If you run a 10% Christmas discount, apply the discount first, then add GCT to the discounted price.
Corporate customers buying gift hampers or event services will expect an invoice that shows your TRN and the GCT separately from the price. A GCT-registered buyer needs that detail for their own records. Your GCT return and payment for each month are due by the end of the following month. The GCT calculation guide on this blog walks through the arithmetic in more detail.
Deadlines Waiting After the Holidays
The festive season does not pause the tax calendar. Put these dates in your phone now:
| Date | What is due | Who it applies to |
|---|---|---|
| 14 December 2026 | Statutory deductions on November pay | Employers |
| End of December 2026 | November GCT return and payment | GCT registrants |
| 14 January 2027 | Statutory deductions on December pay, including bonuses | Employers |
| End of January 2027 | December GCT return and payment | GCT registrants |
| 15 March 2027 | Income tax returns for 2026, and the estimated return and first payment for 2027 | Self-employed people (companies file only the estimated return on this date) |
| 31 March 2027 | Employer's annual return for 2026 | Employers |
| 15 April 2027 | Company income tax returns for 2026 | Companies |
When a due date falls on a weekend or public holiday, check TAJ's guidance for the adjusted date. Companies should also confirm when their annual return to the COJ is due. Our Jamaica tax calendar for SMEs lists the full year.
Keep the Paperwork Moving
December paperwork piles up fast. A few habits keep it under control:
- Invoice on the day you deliver, while the details are fresh.
- Record each payment as soon as it arrives, so you always know who still owes you.
- Handle returns and refunds with a credit note instead of editing an invoice you already sent.
- Keep copies of every invoice, receipt and supplier bill for the period TAJ requires.
If your invoices still come from a Word template or a spreadsheet, December is when the mistakes multiply: two invoices with the same number, a GCT formula pointing at the wrong cell, or a corporate client asking you to resend a copy while you are serving a line of customers. Dedicated invoicing software takes that pressure off at exactly the time you need it.
Your Christmas Prep Checklist
- Review last December's best and worst sellers.
- Confirm supplier lead times, closing dates and payment terms.
- Set a maximum stock budget.
- Draw up a week-by-week cash plan through the end of January.
- Open a separate account for GCT and statutory deductions.
- Collect TRNs and NIS numbers from seasonal staff before they start.
- Budget Christmas bonuses at their full cost to the business.
- Publish your holiday roster and holiday pay arrangements.
- Decide how prices show GCT and apply it consistently.
- Ask for deposits on large corporate orders and invoice on delivery.
- Add the January and March deadlines to your calendar.
Invoicing on VEDTECH
Every instance runs standard Odoo Community with Invoicing included. You can install the other standard Odoo Community apps, such as CRM, Sales, Inventory and Website, from your instance's Apps menu.
- Create and email professional invoices with your logo
- Set up the tax rates you charge; every invoice shows the tax separately
- Record payments and issue credit notes
- Your customers view and download their invoices online
Full accounting, payroll and Caribbean tax filing are not part of VEDTECH. Talk to us about what your business needs.
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