Does the Employment Tax Incentive (ETI) apply to all employees receiving retirement fund payouts, or is it limited to certain types of employers?

This applies to all PaySpace payroll editions.

ETI applies to employees who receive retirement fund payouts only if the payout comes from an employer-administered retirement fund.

This means that the retirement fund must be a benefit provided by the employer, specifically for employees working in the employer's business (such as a retirement fund administrator or the employer itself). If an employee is not employed by the retirement fund administrator or the employer, they are excluded from ETI.

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• How does the system calculate the ETI Period Count?

  The ETI period lasts for 24 qualifying periods. Refer to the SARS Guide to the Employment Tax Incentive guidelines on what criteria need to be met in order for a period to be considered as an ETI qualifying period. PaySpace tracks the qualifying ...