THE effect of the Employment Tax Incentive, commonly known as the youth wage subsidy, has been higher than projected, with time running out if the incentive is to continue in 2017, the Treasury says.In a statement on Friday, the Treasury said if amendments to extend or alter the design of the incentive were required, a draft version of the legislation would be published in the next two months to allow public comment and time for the legislation to be considered in Parliament.The incentive was claimed for 134,923 jobs in 2014 and 686,402 jobs in 2015, implying that approximately 5% of all jobs within individual employee tax certificates in the 2014-15 tax year, the Treasury said in the statement.A total of R6.06bn was claimed between the beginning of 2014 and March 31 2016, and while the implementation of the tax was deferred, the numbers were higher than the estimate of R5bn and 423,000 jobs supported over three years, the statement read.The incentive was implemented in January 2014...
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