Author Topic: South Africa’s new tax laws and National Qualifications Framework deductions 17  (Read 2436 times)

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New amendments to the Taxation Laws Amendment Bill, introduced changes on tax deductions available to businesses. 2017

With regard to a person without disability, the value of the deduction is increased from R30,000 to R40,000 for qualifications from NQF (National Qualifications Framework) level 1 to NQF level 6 and decreased from R30,000 to R20,000 for qualifications from NQF level 7 to NQF level 10.

With regard to person with disability, the value of the deduction is increased from R500,000 to R600,000 for qualifications from NQF level 1 to NQF level 6 and remains at R50,000 for qualifications from NQF level 7 to NQF level 10.

A cap of R20 million was also introduced on the claim allowed to each employer.

https://businesstech.co.za/news/general/150998/6-things-you-need-to-know-about-south-africas-new-tax-laws/
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