According to the attached Finance Act No. 2 of 2023, the Vocational Education and Training Act has been amended to reduce the Skills Development Levy (SDL) rate from 4% to 3.5%.
Effective 1 July 2023. Click here to view the gazette
What changes must be made in the payroll system?
- From the Main Menu
- Click on Payroll > Select Definitions> Methods of Calculations
- Click Edit
- Select the Skills Deduction line
- Select the method
- Tab through the method
- Change the value to 0.035%
Note these changes must be made in the July 2023 payroll system. Please make a backup before making these changes.