Tag: ETI
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Does the Disaster Tax Relief Administration Bill offer real relief?
The last few months have been extremely tough for small business owners as a result of the global COVID-19 pandemic, and various lockdown measures that have created a challenging trading environment. The South African Revenue Service (“SARS”) has identified this hardship, and as a result, the National Treasury recently tabled the Disaster Management Tax Relief Administration Bill, which would assist micro, small and…
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How does the new Employment Tax Incentive (ETI) work?
What is ETI? ETI is a tax concession made to encourage employers to hire young people with no work experience. The employer may claim the ETI from the South African Revenue Service (SARS) by reducing the amount to be paid over in terms of PAYE by the total ETI calculated on the basis of qualifying…