for subscribers

Is SA's tax incentive for young job-seekers working?

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Cape Town - The Employment Tax Incentive (ETI), which has already paid out R6bn, is being carefully assessed to decide whether it should be continued, refined or allowed to lapse, Treasury said in a statement.

The incentive that aims to stimulate employment of 18 to 29 year olds in the formal sector was legislated to continue until December 31 2016.

However, parliament requested a full review of the incentive in order to inform whether it should be continued, refined or allowed to lapse.

Treasury said government is currently engaging on these issues with other constituencies in the National Economic Development and Labour Council (Nedlac).

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.14
(-0.88)
ZAR/GBP
22.05
(-0.65)
ZAR/EUR
20.02
(-0.73)
ZAR/AUD
12.15
(-0.63)
ZAR/JPY
0.16
(-0.56)
Gold
1881.10
(-0.04)
Silver
23.62
(-0.47)
Platinum
877.00
(-0.28)
Brent Crude
42.88
(+1.08)
Palladium
2251.52
(+0.45)
All Share
54528.97
(-0.35)
Top 40
50405.20
(-0.34)
Financial 15
9780.31
(-1.53)
Industrial 25
73772.87
(-0.29)
Resource 10
54351.24
(-0.03)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1380 votes
It depends on how the funds are used.
73% - 8932 votes
No. We should have gotten the loan elsewhere.
16% - 1977 votes
Vote