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Wage Incentive: An Answer to Youth Unemployment?

Tuesday, 01 October 2013   (0 Comments)
Posted by: Author: Ingé Lamprecht
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Author: Ingé Lamprecht (MoneywebTax)

A proposed tax incentive to boost job creation amongst young South Africans could be available to qualifying employers soon.

National Treasury released the Draft Employment Tax Incentive Bill for public comment earlier this month. The incentive is expected to take effect on January 1 next year and would be available for qualifying employment commencing after October 1, 2013. 

If introduced unchanged, the incentive will allow qualifying employers to reduce the tax paid to the South African Revenue Service (Sars) on behalf of employees (PAYE) by the amount of the incentive. 

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