AI Summary of 23. Reduction in national training fund levy in certain circumstances.
The National Training Fund Act 2000 has been revised to include significant amendments, primarily focused on the imposition of the National Training Fund Levy. This levy, applicable to all employers in respect of employed contributors, is structured based on the reckonable earnings of the contributors during designated contribution weeks.
Under the new provisions, employers will pay a levy of 0.35% for reckonable earnings up to €356, increasing to 0.7% for amounts exceeding this threshold. Furthermore, the amendments introduce exemptions during specific periods of absence under a designated social insurance scheme, ensuring enhanced compliance and simplification in the application of the levy.
23. Reduction in national training fund levy in certain circumstances.
(1) The National Training Fund Act 2000 is amended -
(a) in section 1(1) by inserting the following definition:
"'contribution week' has the same meaning as it has in the Social Welfare Consolidation Act 2005;",
(b) by substituting the following section for section 3:
"3. Levy.
Subject to and in accordance with the provisions of this Act, there is, by virtue of this section, imposed upon, and there shall be payable by, every employer in respect of every employed contributor who is employed by the employer a levy (which shall be known as the 'National Training Fund Levy' and in this Act is referred to as the 'levy').",
and
(i) by substituting the following subsection for subsection (1):
"(1) Where in any contribution week a payment is made to or for the benefit of an employed contributor in respect of reckonable earnings of that employed contributor, levy shall be payable by the employed contributor's employer -