Calculate rebates due to your organisation for the learnerships it conducts
Using KPMG LITT will maximise your additional learnership tax deductions, with minimum costs of compliance and provide you the comfort of knowing that calculations are accurate and that all required documentation to substantiate the tax deduction is stored and collated in one easy to access location.
The Learnership Tax incentive provides an additional tax deduction to employers for creating jobs and developing skills in terms of section 12H of the Income Tax Act No. 58 of 1962 (""Income Tax Act""). It comprises both an annual allowance and a completion allowance. This is available to employers who have entered into registered learnership agreements on or after 1 October 2001 but before 1 April 2022 with the respective Sector Eduction and Training Authority (""SETA"").
The tax compliance obligations contained in section 12H of the Income Tax Act can be a substantial burden to organisations. Most companies rely on manual calculations and extensive compliance activity in order to document the supporting schedules required in order to claim the additional tax deduction. Manual processes are time consuming and existing tools and capabilities are often insufficient in processing the vast amounts of tax data, putting the organization at risk of under or over paying tax, filing inaccurate assessments and possibly paying unnecessary penalties and interest.
The KPMG LITT (Learnership Incentive Tax Tool) is a web-based solution that empowers you to take control of all the required data inputs for the additional tax deduction, and provides an automated and efficient processing facility to generate the requisite tax disclosure documents (IT180 tax return forms) and Excel-based summaries for your record keeping. The KPMG LITT further acts as a storage database where learnership information may easily be accessed as and when required.
Record learnership information
Review and approve
Approve the learnerships identified by the webapp as qualifying for the additional tax deduction.
Create the forms
The IT180 forms for each learnership will be produced automatically.
You can save these to your local machine for submission to SARS.
Quickly calculate your rebatesWhether for an actual return or simply to build scenarios using the forecasting function
The rules engine is always kept up to date with SARS rules changes. This means that you can produce your calculations and forms with confidence knowing that the results are based on the most up to date rules.
We've built LITT to be as simple and intuitive to use as possible. You' don't have to be a tax expert. Simply capture or upload the necessary information and click to calculate.
If you have learnerships running in different divisions in your organisation that have different tax numbers, you can set up these division and assign the relevant learnerships to them.
The integrated document management module enables you to upload supporting documentation for each learnership. Store copies of the learnership contract, ID documents, completion certifcates and more.
All the reporting you need to support your claim and manage the learnerships from a tax perspective is available on the administrator dashboard.
Add additional administrators who have permission to produce calculations and SARS forms so that you can spread the load across your team.