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Fasset Supplementary Slides

Detailed slides accompanying the Fasset DVD for deeper understanding of grants and benefits. Learn about mandatory, strategic, and learnership grants, tax deductions, and workplace readiness programs.

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Fasset Supplementary Slides

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  1. Fasset Supplementary Slides To accompany the DVD for the eventEssential Office Etiquette February 2010

  2. Introduction • These slides act as supplementary information to the Fasset DVD, which is being viewed at your event today • The information will provide you with more detail and updated information to assist in understanding Fasset grants, benefits and interventions 2

  3. Flow of Funds Skills Development Levy (SDL) Paid to SARS 100% 1% of Payroll Allocated to relevant Seta 20% 80% National Skills Fund Department of Higher Education & Training 70% Available for Grants 10% Unclaimed SDL goes into discretionary projects decided by the Management Board Seta Admin 20% 50% Mandatory Grant 30 June Strategic Cash Grant 31 March 3

  4. Grant CalculationExample • If annual payroll is e.g. R 2,300,000 • 1% of payroll i.e. the SDL contribution to SARS would be R 23,000 • 50% of this SDL may be claimed as a Mandatory Grant = R11,500 • 20% of this SDL may be claimed as a Strategic Cash Grant = R 4,600 4

  5. Additional Benefits • In addition to the SDL which can be claimed, a number of benefits are available for the Fasset registered member • The free Fasset benefits and their estimated value is described in the next slide 5

  6. Estimation of Benefits Example 6

  7. Mandatory Grant 2009/10 • Mandatory Grant is due on 30 June 2010 – 50% of SDL • No extensions, the penalty is losing grant in full • New companies have 6 months to claim the grant from the date of registering for the SDL • The grant may be completed online • Fasset must receive a signed copy to finalise application • Fasset Skills Advisors (FSAs) available to assist newly registered companies and Skills Development Facilitators (SDFs) • Forms and guidelines may be downloaded at www.fasset.org.za 7

  8. Strategic Cash Grant 2009/10 • Due 31 March 2010 – expenses to a maximum value of 20% of SDL • A signed copy must be sent to Fasset to finalise your application • Form and guidelines may be downloaded at www.fasset.org.za • 6 areas are supported • Learnerships, bursaries (internal and external), workplace experience, ABET and new venture creation 8

  9. Learnership Cash Grant 2009/10 • This is available to the employer who employs a black (African, Indian, Coloured) and/or a learner with a disability • Learner must have commenced the learnership in the 2009 calendar year • Learnership Cash Grant (LCG) must be claimed by 31 March 2010 • Employer must employ fewer than 150 employees 9

  10. LCG Amounts 2009/10 • For a learnerships of the following duration, these amounts are available: • 12 months R 11,000 • 24 months R 16,000 • 36 months R 27,000 • For a learners with disabilities (any population group): • 12 months R 19,250 • 24 months R 28,000 • 36 months R 47,250 10

  11. Learnership Tax Deductions • Available for all learners, regardless of population group through SARS • Higher amount available for learners with a disability • Substantial positive changes regarding learnership tax allowance • Increase in allowance for multi-year learnerships • Annual tax deduction • Pro-rated for learners who leave the employer before the end of the learnership 11

  12. Learnership Tax Deductions Change to Income Tax Act (2009) 12

  13. Other • Fasset Skills Advisors are consultants who are available nationally to assist specific employers with the completion of Mandatory Grants free of charge • Lifelong Learning (LL) events (free and available over the course of the year) are described below, register for the event on www.fasset.org.za • Both FSAs and LL events are allocated a value in the benefits value calculation example above 13

  14. Lifelong Learning Programme 2010 14

  15. Development Projects • In order to address the shortage of professionals in the Fasset sector, Fasset funds the training of learners in workplace readiness skills – which includes soft skills, technical and / or academic financial skills • Learners are black and/or disabled, and once employed by the company may be put forward for a Learnership Cash Grant (LCG) 15

  16. Bonani Workplace Readiness • Unemployed, Black and/or Disabled learners with BCom degrees or National Diplomas • Offered in Gauteng (JHB and PTA), KwaZulu-Natal and the Western Cape • Intensive 5 month Workplace Readiness Programme (WRP) including training in a ‘virtual office’ environment • To employ learners: Contact Waldo Jonker (011) 466-3312 • www.fasset.org.za for more details 16

  17. Pagamani Workplace Readiness • Unemployed black and/or disabled matriculants or those with incomplete qualifications placed on 10 month programme which includes a certificate plus an advanced certificate from the Association of Accounting Technicians (AAT) • Intensive 3 month work readiness programme is integrated in the training programme • Offered in Gauteng • To employ learners: Contact Waldo Jonker (011) 466-3312 • www.fasset.org.za for more details 17

  18. Thusanani Workplace Readiness • Black unemployed graduates in Gauteng with various qualifications • Intensive 3 month Workplace Readiness Programme (theoretical and practical) • Mentorship offered for at least 6 months after the intervention • To employ learners: Contact Avril Peddie (011) 678-2144 • www.fasset.org.za for more details 18

  19. The 2010 IRBA Support Bridging Programme • To assist Black and/or disabled candidates who have been unsuccessful in previous attempts to pass the Public Practice examination (PPE), to have a significantly better opportunity to pass the examination in 2010. • Offered to employed repeat PPE candidates in Gauteng. • www.fasset.org.za for more details 19

  20. Thank You Contact Fasset Call Centre 086 101 0001 www.fasset.org.za 20

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