The Skills Development levy is a levy payable by employers and is calculated at the prescribed percentage of the leviable amount.
Our payroll services can assist by taking care of the financial records of employees’ salaries, wages, bonuses, and deductions. We will ensure that all employees are paid accurately, with the correct withholdings and deductions, therefore ensuring that the correct PAYE, SDL and UIF are deducted from the employee’s gross salary. We then ensure that this is submitted and paid over to SARS by the due date.
What are the benefits of the Skills Development Levy?
If your company promotes training and learning in the workplace and you pay your Skills Development Levy every month, you are entitled to the following benefits:
- Skills development grants
- Substantial tax allowances when you implement Learnerships in your company.
The Skills Development Act was developed in order to improve the working skills of South Africans. This act enables the economy to grow, offering an improved life for all South Africans. PATC (Professional Accountants and Tax Consultants) can help you calculate your Skills Development Levy and explain in further detail the benefits you could receive.