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2008 Budget & Tax Update. Fasset Presentation March to April 2008. Why Training?. Welcome. Fasset’s is committed to Lifelong Learning All Fasset funded interventions support the skills shortage in South Africa JIPSA and ASGISA Focus on finance learners and professionals.
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2008Budget & Tax Update Fasset Presentation March to April 2008
Welcome • Fasset’s is committed to Lifelong Learning • All Fasset funded interventions support the skills shortage in South Africa • JIPSA and ASGISA • Focus on finance learners and professionals
SDL Levies (1% of payroll) Paid to SARS 100% Allocated to relevant Seta 20% 80% National Skills Fund Department of Labour 70% Available for Grants 10% Unclaimed SDL goes into discretionary projects decided by the management board Seta Admin 20% 50% Strategic Cash Grant 31 March Mandatory Grant 30 June
Fasset Strategy • Decided annually by Fasset Management Board • Lifelong Learning (LL) also available to Non Levy Paying (NLP) members who register with Fasset • Used to guide development projects e.g. workplace readiness • Strategic Cash Grant criteria • Learnership Cash Grant structure
Scarce and Critical Skills • Scarce Skills Occupations characterised by a scarcity of qualified and experienced people (current and anticipated) e.g. accountant, bookkeeper • Critical Skills Particular skills gaps within an occupation e.g. workplace etiquette, legislation change • Scarce and critical skills guideline available on website • Sector Skills Plan (SSP) 2008/2009
Mandatory Grant • Deadline 30 June 2008 – no extensions • New employers may apply within 6 months from date of SDL registration • 50% of SDL to be refunded • 1st payment will be made on 25 August 2008 • Not relevant to NLPs • Fasset Skills Advisors (FSAs) may assist
Strategic Cash Grant 2008 • Maximum of 20% of the SDL for expenses • Training in the period 1 January to 31 December 2007 • Due 31 March 2008 • Criteria and application form available on website • Adult Basic Education and Training (ABET) • Internal bursaries (for employed staff) • External bursaries (for unemployed people) • Workplace experience • Learnerships • New venture creation
Available to SDL and NLP employers who meet specific Seta criteria Due 31 March 2008 in respect of learners commenced 1 January to 31 December 2007 Not only Fasset learnerships – criteria available on website Extension request required before deadline of 31 March 2008 Learnership Cash Grant
Criteria and form available on website Black and/or people with disability Firms employing 150 or less Firm to be registered with Fasset NLP or SDL payer Duration of learnership 1 year – Black R 11,000 Disability R 19,250 2 year – Black R 16,000 Disability R 28,000 3 year – Black R 27,000 Disability R 47,250 Learnership Cash Grant
Available to all employers who implement learnerships Available to all learners regardless of population group and gender of the learner Tax deductions higher for learners with a disability Previously employed on commence R 20,000 Previously unemployed on commence R 30,000 Completion of learnership R 30,000 Learnership Tax Deductions
Lifelong Learning 2008 Programme subject to change
Other • Development projects • Bonani NQF level 6 – 500 learners (finance environments) • Thusanani NQF level 5, 6 and 7 – 200 learners (finance & non-financial environments) • Thuthuka CTA programme – 349 learners • ORT CAT Work Readiness Programme – 100 learners on ACCA programme • R 200,000,000 has been allocated to the 54 projects to date
Other • Free ABET available in all provinces. Contact Samson on 011 953-1663 • Event attendance certificates available 1 month post-event on Fasset database to Fasset registered firms only – contact call centre • FSA intervention begins 1 April 2008 • Sector Survey Completed • 2005/2006 grant analysis on website
