Skills development levy allow businesses to claim about half their levy back
You might ask yourself why does the skills development levy allow businesses to claim about half their levy back. Well, here is why. As an employer, if you submit a Workplace Skills Plan (WSP) and an Annual Training Report (ATR) then 20% of the levies that you’ve paid will be paid as a mandatory grant towards your company.
Why does the skills development levy allow businesses to claim about half their levy back
A Skills Development Levy (SDL) is a levy imposed to encourage learning and development in South Africa and is determined by an employer’s salary bill. The funds are paid to the South African Revenue Services (SARS) and are to be used to develop and improve skills of employees.
As an employer, you’re required to pay the skills development levy every month if:
- you’ve registered your employees with SARS for tax purposes (Pay As You Earn (PAYE)), and
- if you pay over R500 000 a year in salaries and wages to your employees (even if they’re not registered for PAYE withSARS).
Do you want to enhance your Employees Performance?
Discover great Business Coaches and Public Speakers to improve your Employee Performance. Also, browse a list of Team Building Activities in South Africa for your Company and get a competitive Quote