Did you know that the Employment Tax Incentive (“ETI”) programme has been expanded to assist employers in the wake of the COVID-19 pandemic and the national lockdown?
This expansion has been introduced in order for tax compliant employers to improve the cash flow of their business, so that they may continue to maintain existing staff levels and pay salaries to their employees.
The expanded ETI programme, applicable to qualifying employers, will apply for the period 01 April 2020 – 31 July 2020 and may be summarised as follows:
Requirements to qualify are as follows:
It should be noted that details regarding communications with SARS during the lockdown period are available on their website at www.sars.gov.za. You may also consult the Explanatory Notes on the COVID-19 Tax Measures published by National Treasury and SARS, for further information.
For the moment and at date of publication, this is the information we have obtained. We will keep you updated should any further relevant information come to our attention.
Although we have used our best efforts to ensure that all information contained in this communication is accurate as at the date hereof, we cannot guarantee the accuracy thereof and recommend verification thereof before use.
This client information series is brought to you by the Siyandisa Trust in conjunction with PH Consult, a strategic partner of the Siyandisa Trust.
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