Refunds for 1992 NHT contributions ready

PEOPLE WHO contributed to the National Housing Trust in 1992 may now collect their refunds for that year from the Trust.

In its latest advisory, the NHT said once accurate and complete information is submitted to its offices, every contributor is entitled to the refund of his or her contributions.

Under the NHT Act, the Trust is required to hold each person's contribution for seven years and to refund these in the eighth year after the contributions have been made. It means therefore, that contributions can be refunded a year at a time, with each year's contributions being due in the eight year after the contributions are made.

If, however, the contributor has a mortgage with the NHT, he/she will not get back this money in hand. It will instead be credited to the mortgage account to help reduce the loan balance.

How is Contribution Refund claimed?

The NHT publishes in the major newspapers the lists of companies and self-employed persons whose accounts are up-to-date. If the name of the company/companies for which a contributor worked in the year for which payments are being made is listed, the contributor may go in to his NHT office and claim his/her contributions Refund Certificate.

It should be noted that the NHT will no longer automatically print contributions refund certificates for distribution. You will therefore need to visit any NHT office when your refunds become due and claim your refunds. To claim your refunds, you will need to complete the repayment vouchers which will be available at all NHT offices.

If you are a self-employed person who contributed to the Trust in the year for which refunds are being made, you should note that you are able to claim your refunds in the same manner, even if your name did not appear in the newspaper listing.

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