Get Your Money Back from SETA
According to the Skills Development Act (No 9 of 1999), any company registered in South Africa with an annual total payroll exceeding R500 000 per annum has to pay a skills levy of 1% of their monthly payrolls to SARS. The funds are used for education and training in businesses within various sectors, with the aim to expand the knowledge and competencies of their labour force. If the company fulfils certain conditions, for example, a successful implementation of a Workplace Skills Plan, the company will be eligible to apply for a Mandatory Grant rebate of their skills levy. In addition companies can apply for funds through Pivotal Programmes. The process differs between the SETAs and we recommend that you contact the relevant SETA directly for more information.
Benefits of training for organisations:
- Increased efficiencies in processes, resulting in financial gain.
- Stay ahead of competitors.
- Provide internal promotion opportunities
You’ll be able to claim back a large portion of that money, while also improving the skills of your employees – something that can only benefit your business in the long run. And depending on the size of your company’s payroll, the amount you can claim back can add up to quite a bit of money.
Many small businesses can’t be bothered, or don’t have the time, to deal with the paperwork and administration involved in claiming back what is sometimes a small amount of money from SETAs. But the benefits do not just lie in putting money back in your business’s pocket. There are enormous advantages to be derived from upskilling your employees and any small business that is truly invested in growth should have some sort of training and development programme, regardless of whether or not they can claim money back from SETAs.
Many of our clients will be budgeting right now for training and people development spending for this year and next. The SETA’s require you to submit documentation to claim either mandatory or discretionary grants. For those companies registered with MerSETA, this link provides information on their grant process.
Preference is given to Leanerships and Skills Programmes for the allocation of funds for mandatory and discretionary grants. We have a number of programmes which will add value to your business.
Related SETA websites:
- Agriculture: www.agriseta.co.za
- Banking: www.bankseta.org.za
- Construction: www.ceta.org.za
- Chemical Industries: www.chieta.org.za
- Clothing, Textiles, Footwear & Leather: www.ctflseta.org.za
- Energy, Water & Related Services: www.eseta.org.za
- Education Training & Development Practices: www.etdpseta.org.za
- Financial & Accounting Services: www.fasset.org.za
- Forest Industry: www.fieta.org.za
- Food & Beverage Manufacturing Industry: www.foodbev.co.za
- Health & Welfare: www.hwseta.org.za
- Insurance: www.inseta.org.za
- Systems, Electronics & Telecoms Technologies: www.isett.org.za
- Media, Advertising, Publishing, Printing & Packaging: www.mapppseta.co.za
- Manufacturing, Engineering & Related Services: www.merseta.org.za
- Mining & Minerals: www.mqa.org.za
- Safety & Security: www.poslecseta.org.za
- Services: www.serviceseta.org.za
- Transport: www.teta.org.za
- Tourism & Hospitality: www.theta.org.za
- Wholesale & Retail: www.wrseta.org.za