Sars Learnership Agreements

In addition, in order to qualify for the 12H section allowance, the apprenticeship contract must have been concluded by a certain date. This period was extended from October 1, 2016 to April 1, 2022. Section 12H of the Income Tax Act[1] allows an employer to apply for an “apprenticeship allowance” for registered apprenticeship contracts entered into or concluded in a tax year. For the purposes of Section 12H, the apprenticeship agreement must be registered in accordance with the Skills Development Act. [2] A legitimate employer is entitled to two types of benefits, namely an annual allowance (deductible for each year of assessment in which a learner is a party to a registered apprenticeship agreement) and an end-of-study allowance (deductible in the year the learner successfully terminates). In addition to the EIT, an employer may also be entitled to a deduction from an apprenticeship allowance during a tax year if the requirements of section 12H of the Income Tax Act are met, as noted above. With a focus on skills development and job creation, the existing apprenticeship allowance has been extended to all agreements reached before 1 April 2022. Similarly, the employment tax incentive (ETA) has been extended until 28 February 2019. The EIT[3] was introduced by the government on 1 January 2014 to address the socio-economic and economic problem of youth development. Eligible employers can reduce the monthly tax on workers withheld and liable for income tax within the meaning of the fourth scheme of the EIT Income Tax Act. It was originally suggested that this allowance would cease on January 1, 2017. However, the incentive has been extended until February 28, 2019. In addition, the amount of aid from 1 October 2015 will depend on the level of qualification of the learner.

In this context, employers are entitled to the annual allowance and the 40,000 R end-of-study allowance for learners with a qualification corresponding to the National Certification Framework (CNQ) level 1 to 6. For learners with a level 7 to 10 cnQ qualification, the employer is entitled to an annual allowance of 20,000 R200 R200. You may have heard that your business will only benefit with the participation of your accountant/account/tax advisor/accountant. In addition, you no longer doubt your efforts to rate your employees; Strengthen the importance of estate planning Offer a career for your employees and play your part to do the automotive industry retailing of every young “industry” of choice.