How Learnership Tax Incentives Can Benefit Your Business
In today’s business world, skills development is more important than ever. South African businesses have a unique opportunity to reduce costs and upskill employees through the learnership tax incentive, particularly under Section 12H of the Income Tax Act. By entering into registered learnerships, businesses can claim tax deductions that not only benefit the bottom line […]
Learnership Stipends: A Help or a Hindrance?
Learnerships are meant to provide skills development opportunities while giving learners a foot in the door of the working world. In theory, it’s a win-win: businesses upskill potential employees while learners gain valuable work experience and a qualification. But in reality, it’s a lot more complicated—especially when it comes to stipends. Stipends are a crucial […]
Navigating Compliance and Maximising Benefits in South Africa’s Skills Development Framework
In South Africa’s changing economic environment, complying with the Workplace Skills Plan (WSP) and Annual Training Report (ATR) is a multifaceted challenge for businesses. As we saw in our initial discussion of the WSP (Understanding South Africa’s Workplace Skills Plan (WSP) ), this strategic document outlines a company’s strategy for employee skill development, which is […]
The Role of Learnerships in Addressing Youth Unemployment in South Africa
The discourse surrounding learnerships in South Africa brings to light a multifaceted journey encompassing youth unemployment, skills development, and the ever-changing landscape of industries. While the journey is ongoing, learnerships showcase promising strides towards addressing youth unemployment.
Learnerships
Learnerships are widely embraced in South Africa as a popular form of vocational education and training. They are available across all industries and have garnered significant attention. According to the South African Department of Higher Education and Training, more than 4 million learnerships have been registered with the various Sector Education and Training Authorities (SETAs) […]
BBBEE and Skills Development
BBBEE Statement 300 – Skills Development Skills development is a priority element of the BBBEE scorecard, if the sub-minimum of 40% of the target score under this element is not achieve an entity will drop by one level once the verification is concluded. This element in the scorecard uses targets that are based on racial […]
Learnership Registration
This is where most people get stuck, and they have not even started yet. Without the Confirmation of Registration, well it’s not a Learnership and no BBBEE scorecard points, and no 12H tax incentives. Those two pieces of legislation ensure learnerships continue to find a place in the workplace, we should use them to make […]
Sector Education and Training Authority, SETA.
What is it they do? I know this seems like a trick question, but it is not. SETAs were established in 2000 in terms of the Skills Development Act (1998) and are responsible for the disbursement of the training levies payable by all employers within their scope. These levies are collected by the South African Revenue […]