What is Skills Development reporting all about ?
According to the skills development levies act, all employers with an annual payroll of R 500 000 or more or who has more than 50 employees are obligate to pay 1% Skills Development Levies to SARS for training purposes.
When you do training in your company and report on that training with the relevant SETA where your company is registered you can claim up to 20% of that levy back in a form of a grant.
You can claim a further 60% back and stand a change to receive further grants when you train and plan for PIVOTAL training.
Pivotal training is : Bursaries , Learnerships, Apprenticeships, Work Integrated training, credit baring Skills programmes.
Pivotal training falls under discretionary grants and is for both employed and non employed learners.
In order to report on your training you need to be:
- a levy paying company
- have a skills development levy number
- have done training in the last 12 months
- are planning to do more training in the next 12 months
- work through a certified SDF
- registered with the relevant SETA
Skills development in your company can improve your workforce’s :
- skills level,
- work ethic,
- service they provide to clients
In total it can improve your BBBEE score and increase your company growth.