This incentive will become available from 1 January 2014 to all registered employers who have employees earning between the minimum wage and R6 000 per month. The employee must be between 18 and 29 years old, not be a connected person to the employer or an employee of an associated institution.
A monthly incentive will be introduced which will be deductible from PAYE payable to SARS each month and the EMP201 returns will be adjusted accordingly. This incentive is only available for 24 months.
If you require any further information on any of the above amendments, please contact our Tax Department on (021) 7138700.