Employment Tax Incentive: A Win-Win for Business and Youth Employment
With South Africa’s unemployment rate at an all-time high—especially among young people—businesses are in a position to make a meaningful difference. The Employment Tax Incentive (ETI) offers a way for employers to reduce payroll costs while helping young South Africans, particularly those from historically excluded communities, gain valuable work experience. But, while it’s a win-win […]
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 […]
The Employment Tax Incentive
The Employment Tax Incentive (ETI) is a significant government program implemented in January 2014 with the primary objective of encouraging the employment of young individuals aged between 18 and 29. This initiative seeks to alleviate the financial burden associated with hiring young workers and stimulate job creation by offering tax incentives to qualifying employers. Designed […]