Teryl @ Work

How is the tax incentive calculated? Assuming qualification: Year One : Employee remuneration of : R2 000 or less - 50% of monthly remuneration R2 001 to R4 000 - R1 000 R4 001 to R6 000 is based on a formula Year Two: The incentive is halved : References and Links SA Treasury - Employment Tax Incentive Bill Accsys - Full article

The new Employment Tax Incentive Bill has raised a lot of questions.   While I put out an overview a few weeks ago, there are some queries that keep coming up.   Over the next week, this blog will cover some of them. Large numbers of unemployed are a problem for any country, but when young people leave the education system with a very poor chance of getting a job, their motivation to achieve is impacted from day one. Statistics indicate that 50% of 15 to 25s are unemployed, and 29% of 25 to 34 year olds.   The ETI Bill aims at the 18 to 29 year olds who are believed to be around 30% of the total unemployed which is sitting at approximately 25%. The concept of introducing a subsidy for employers who take on young people is not a new one, but there has been significant resistance.   The draft bill was released in September, and the formal bill was published on November 4 th , 2013.   When is it happening? Treasury has set a “go l...