The levy grant scheme, legislated through the Skills Development Levies Act, 1999, serves to fund the skills development initiative in the country. The intention is to encourage a planned and structured approach to learning, and to increase employment prospects for work seekers.
According to the Skills Development Levies Act, all employers that have a payroll of more than R500 000 per annum have to pay a skills development levy (SDL) to SARS. The levy is calculated as 1% of your wage bill, payable monthly.
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