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Home Archive of News Tax Incentive Bill is published for comment

Archive of News

Tax Incentive Bill is published for comment

In a statement released on Monday, it said ithat the bill would create conditions conducive to bringing young job-seekers into the economy.

"The youth employment tax incentive targets young people entering the labour market and those earning below the personal income tax threshold. In doing so, it targets lower skill, lower wage individuals who have low prospects of finding a job. The incentive will create conditions conducive to job creation and improve employment prospects for such marginalised workers."

Meanwhile, the Democratic Alliance has claimed that the legislation, which will introduce the long-awaited youth wage subsidy, was a similar version of the measure first mooted by finance minister Pravin Gordhan years ago, before it was opposed by the labour movement, reports The New Age.

The newspaper reports that the bill offers benefits to companies which employ people between the ages of 19 and 29 by lowering the amount of tax due from the employer through the pay-as-you-earn system.


Author: Frew Murdoch is the assistant editor of HR Pulse. She is currently studying towards her BA degree in Communications and English.
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