Bosses to contribute skills devt levy on all workers

From October 1, employers will contribute the Skills Development Levy (SDL) on all workers they employ, up to the first $4,500 of gross monthly pay.

Currently, the salary ceiling for SDL contributions is $2,000.

The levy rate will also be lowered from 1% to 0.25% from October 1, subject to a minimum contribution of $2 per employee.

The SDL underlines employers' key role in contributing to workers' training and institutionalise employer's dedication to the Continuing Education and Training (CET).

The expansion of the levy base is to better reflect the outreach of CET, which will increasingly cover professionals, executives and managers.

At the same time, the wider base will allow the existing levy rate to be lowered to ensure the total SDL collection will remain about the same as under the previous formula.

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