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WSP's and Mandatory Grants Made Easy

BY Clarice Oelofse

Submitting WSP’s and Mandatory Grants can be daunting, to say the least. This is what it is all about, in a nutshell:

 

Each month organisations with a total annual payroll of more than R500 000.00 contribute 1% of total annual payroll in the form of s Skills Development Levy (SDL) contribution to the Skills Development Fund, which is administered by the South African Revenue Services (SARS), according to legislation. This contribution that the organisation makes is reflected on its monthly EMP 201 form, which also reflects PAYE and UIF paid.

 

In order to receive its Mandatory Grant, as well as to gain access to Discretionary Grants each year, organisations that contribute Skills Development are required to submit a Mandatory Grant Application to its respective SETA.

 

The allocation of skills development levies can be illustrated as follows:

 

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 March 14, 2014
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Clarice Oelofse

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