Millions of young South Africans are excluded from participating in economic activity, and as a result suffer disproportionately from unemployment, discouragement and economic marginalisation. High youth unemployment means young people are not gaining the skills or experience needed to drive the economy forward. This lack of skills can have long-term adverse effects on the economy.
In South Africa, the current lack of skills and experience, as well as perceptions regarding the restrictiveness of labour regulations, make some prospective employers reluctant to hire the youth.
As a South African employer, you now have a great opportunity to boost the employment of young job seekers.
WHAT IS EMPLOYMENT TAX INCENTIVE (ETI)
The ETI is an incentive aimed at encouraging employers to hire young job seekers. It was implemented with effect from 1 January 2014.
WHAT ARE THE BENEFITS OF ETI
(PAYE), or is eligible to register for PAYE (i.e. the employer cannot register just to claim ETI, other registration requirements must be met)Is not a public entity listed in Schedule 2 or 3 of the Public Finance Management Act (other than those public entities designated by the Minister of Finance by Notice in the Gazette)Is not disqualified by the Minister of Finance due to the displacement of an employee or by not meeting the conditions as may be prescribed by the Minister by regulation. title=