The 30th April Deadline for WSP submission is fast approaching!
All companies with an annual payroll of R500 000 and above must submit their Workplace Skills Plan (WSP), Annual Training Report (ATR) and Pivotal Report (PVT) to the relevant SETA for approval before 30th April every year.
There are many benefits to submitting your WSP and placing staff on accredited training programmes.
- By submitting your WSP and ATR you are able to claim back the 20% mandatory grant from your Seta. This is 20% of the Skills Development levy that you have to pay. These are paid our quarterly
- In addition to the mandatory grant, if you register staff on Skills Programmes and Learnerships ie: PIVOTAL (Professional, Vocational, Technical and Academic) learning programmes and that address skills that appear on your Seta’s scare skills list, you are able to claim from the Seta’s Discretionary Grant. This amounts to 49.5% of the skills development levy paid.
- When registering staff on a learnership, there are significant B-BEEE and tax benefits!
- Firstly, all spend related to the learnership can be attributed to the Skills Development element of the B-BEEE scorecard. This is the cost of the learnership as well as the salary of the person on the learnership – for 12 months!
- Section 12H of the Income Tax Act allows an employer to claim a learnership allowance of up to R80 000 per person (R120 000 if the person is a disabled candidate). This can be claimed when registering staff on learnerships. (This is an affective R22,400 – at a 28% corporate tax rate) It’s a tax deduction, The employer must complete IT180’s in respect of all learnership agreements for which a tax allowance is claimed. These rebates are issued in two instalments.
- All spend in relation to PIVOTAL training can be claimed towards your Skills Development Element on the B-BEEE scorecard. This means you can claim not only the costs of the training programmes, but also the salaries of the staff on those programmes for 12 months!
Synergy Training offers their clients a robust skills development solution including assistance with WSP compilation and provision of PIVOTAL and other training. The RPL learnerships Synergy offers are priced from R18350 and R26500 – which means that you can in reality run a learnership for free, and claim both the spend and the salaries involved towards tour B-BEEE spend.
Synergy has a range of learnerships from which to choose, and is well placed to assist organisations in achieving their skills development goals.
Don’t miss out on the opportunity to gain maximum BEE points AND claim back the grants offered by your Seta! Contact Synergy on (010) 900 2572 or email@example.com for more information.