What is The Tax Deduction?
Section 12H of the South African Income Tax Act provides additional tax deductions to employers for qualifying learnerships. These additional deductions are intended as an incentive for employers to train employees in a regulated environment in order to encourage skills development and job creation. Training contracts qualifying for these deductions are learnership agreements registered with Services SETA.
How is it Made up?
The deduction is made up of two parts:
An annual tax deduction of R40,000.00 per employee when registering an NQF Level 4 or NQF Level 4 Real Estate learnership.
A completion tax deduction of R40,000.00 per employee when completing the NQF Level 4 or NQF Level 4 Real Estate learnership.
Clients of BrainTrust Business Training can therefore achieve an additional R80,000.00 tax deduction for each employee enrolled with BrainTrust in our one-year Real Estate Learnership programmes.
*Disabled employees receive an additional R20,000.00 annual and R20,000.00 completion tax deduction - a total of R120,000.00 tax deduction per disabled employee.
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