achieving compliance is possible
Skills development is an integral part of the country’s overall objectives to reduce poverty and the decline in employment, increase job skills and improve the economic growth of the country. To give effect to the National Skills Development Strategy, the Skills Development Act No. 97 of 1998 was introduced in 1998 to establish an institutional and financial framework for training and development of skills in the workplace. This Act inter alia provides for the registration of learnerships by the various Sector Education and Training Authorities (SETAs).
Skills Development Facilitation assists organizations to address their skills gaps and align their training and development initiatives with strategic objectives to best suit the companies’ needs.
Discretionary Grants Management
Grant planning and sourcing to improve your companies training needs through eliminating skills gaps and fulfilling skills requirements.
An Employment Equity Service that assists the organization to promote basic fairness and equality in the company and complying with the Employment Equity Act.
BBBEE consulting service with the goal to assist your organization to improve your BBBEE rating and BBBEE awareness.
Brightening the future through managing your training and training centers.
Tailor made financial consulting packages, depending on your companies needs. Including: Monthly bookkeeping, annual financial statements, annula personal and business tax submissions.
get in touch
DBN: 031 100 0373
PTA: 012 004 1468
“If you think compliance is expensive – try non-compliance.”
– Former U.S. Deputy Attorney General Paul McNulty
Frequently Asked Questions
Q: Does everyone have to submit tax returns no matter their income?
No, in South Africa the income tax threshold is R500 000. This means if your earnings per year is below R500 000 , you do not need to submit income tax to SARS.
Q: When does a company’s tax returns need to be submitted ?
The tax year runs from 1 March the previous year to 28 February the current year. Tax returns can to be submitted from 1 July with a completed IRP5 and with the assistance of a registered tax practitioner.
Q: Can a you apply for funding from the SETA in your private capacity?
Unfortunately not. The application requires a person to be linked to a levy paying or non-levy paying company in order to submit funding applications.
Q: Can a company apply for funding on training that took place in previous years?
An entity can only apply for funding on training that is planned for the current skills year or the next skills year.
Q: Is employment equity compulsory ?
es , employment equity is compulsory if your workforce is over 50 employees and / or you fall within the industry annual threshold as stipulated per the employment equity act ( attached is the latest table with industry thresholds, perhaps it can be a link for people to click on ?)
Q: My company does not do employment equity but fall within the parameters of compliance. What is the worst that the department of labour can do?
Employment equity is compulsory by law. Failure to comply will lead to fines as large as 10% of the employers turnover. If the company does not comply after a fine is imposed, the department of labour has the authority to even close the business
Q: Is it compulsory for all businesses to have a BBBEE certificate?
No, BBBEE is not compulsory for privately owned businesses. However it is compulsory for government institutions.
BBBEE can impact a business financially by offering better business opportunities with other BBBEE certified entities. It can further assist in apply for government and private tenders and to in further funding for the business or in skills development.