How Learnership Tax Incentives Can Benefit Your Business
In today’s business world, skills development is more important than ever. South African businesses have a unique opportunity to reduce costs and upskill employees through the learnership tax incentive, particularly under Section 12H of the Income Tax Act. By entering into registered learnerships, businesses can claim tax deductions that not only benefit the bottom line […]
Navigating Compliance and Maximising Benefits in South Africa’s Skills Development Framework
In South Africa’s changing economic environment, complying with the Workplace Skills Plan (WSP) and Annual Training Report (ATR) is a multifaceted challenge for businesses. As we saw in our initial discussion of the WSP (Understanding South Africa’s Workplace Skills Plan (WSP) ), this strategic document outlines a company’s strategy for employee skill development, which is […]
SARS Incentives for Skills Development
Employment tax incentive (ETI) The Employee Tax Incentive (ETI) is a tax incentive introduced to encourage employers to employ youth (18 to 29 years old). The ETI allows employers a benefit of up to R18,000 per year for every qualifying youth employed. The ETI was introduced to help make it more affordable for businesses to […]