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Draft Employment Tax Incentive Bill

According to Deloitte in an article published on the Tax Talk site (www.taxtalkblog.com) the Draft Employment Tax Incentive Bill was released for public comment on the 20th September 2013 and aims to incentivise the employment of young, first time workers between the ages of 19 and 29 earning less than R6 000 per month (R72 000 per annum). The concept of an employment tax incentive was first announced by the President in 2010. It is proposed that employers who are registered to withhold and pay tax on behalf of their employees (PAYE) will be eligible to decrease the PAYE employees' tax that is payable for hiring qualifying employees by the incentive benefit. This employment tax incentive is expected to commence on 1 January 2014 for employment commencing after 1 October 2013 and will be available until 31 December 2016.

It is proposed that a qualifying employee is a person who meets the following requirements:

  • The employee must be in possession of a valid South African identity card.
  • The employee must not be less than 19 years old and more than 29 years old.
  • The employee and the employer must not be connected persons as defined in Section 1 of the Income Tax Act.
  • The employee's salary must be between the minimum wage for that specific sector and R6 000 per month with a minimum of R2 000 per month applying where no sectoral determination is applicable; and
  • The employee is not a domestic worker as defined in section 1 of the Basic Conditions of Employment Act, 1997.
For more information visit www.taxtalkblog.com or www.saitcpd.org.za