The Employment Tax Incentive Act became effective on 1 January 2014.
A number of employers have heard of the above mentioned Act, but do not know how to implement the provisions of the Act in practice. Most employers do not fully understand the direct cash benefits made available to them by the Act. The Act was drafted to encourage the employment of young South Africans, All employers, who comply with the relevant qualifying criteria, can claim a monthly Employee Tax Incentive (ETI) from SARS in respect of all qualifying employees employed during that month.
The Act is due to come to an end in December 2016, if you would like more information please contact Accumin on 031 261 8260.