LEARNERSHIP TAX
Busa hails extension of jobs schemes
Changes to Employment and Learnership Tax Incentive schemes will help youth and graduates
Parliament’s extension and amendments to the Employment and Learnership Tax Incentive schemes are bound to accelerate absorption of youth and graduates into the employment market, according to Business Unity SA (Busa). The business formation welcomed the changes, which Parliament adopted on Friday. These allow for the learnership tax to be extended by five years and for the employment tax incentive to be extended by two years. Amendments to the schemes include a removal of the R20m ceiling on tax incentive claims for each employer per year. Business will also be able to apply for a tax break of R30,000 for each person taken on as part of the learnership scheme.
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