Black Economic Empowerment
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Black Economic Empowerment

The purpose of Black Economic Empowerment is to bridge the gap between formal and substantive equality to ensure that all people in South Africa fully enjoy the right to equality. At Skills Junction we intend to use the BEE strategies that we devise for you to help achieve this goal and to ensure that our services bring the BEE Level result you desire as well as helping to transform South Africa.

Black Economic Empowerment is governed by:

  • the Broad-Based Black Economic Empowerment Act, 2003(as amended);
  • the generic Codes of Good Practice on Broad-Based Black Economic Empowerment(BEE Codes). The revisions to the 2007 version of the BEE Codes were issued on 11 October 2013 and came into force on 1 May 2015; and
  • certain sector-specific Codes of Good Practice(Sector Codes). An entity operating in a sector with a Sector Code will be governed by that Sector Code and not the BEE Codes.
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Skills Development and Black Economic Empowerment

Skills development along with employment equity are imperative for businesses to comply with statutory and Broad-Based Black Economic Empowerment (B-BBEE or BEE) scorecard requirements.

Skills Development in South Africa has become a strategic priority for businesses that wish to attain or retain an acceptable BEE level and also meet the requirements of the Skills Development Act. The Skills Development Act provides businesses with a solid framework to implement learning strategies towards skills development that will improve the South African workforce’s skills. With the revised BEE scorecard, companies can earn maximum skills development points if they spend the required 3% or 6% of their annual payroll on skills development programmes such as SETA-accredited training initiatives (depending on the business category).

A prerequisite for recognising any points under Skills Development on your BEE scorecard is the submission of the following:

  • Pivotal Plan;
  • Workplace Skills Plan (WSP);
  • Annual Training Report (ATR) prior to the deadline in April each year.

By paying your SDLs monthly, you qualify for;

  • Skills development grants (mandatory and discretionary);
  • Substantial tax allowances when you implement learnerships in your company;
  • Businesses can qualify for a tax rebate of up to 50% of all employees below the age of 29 (youth subsidy) under certain circumstances;
  • A further R80 000 as an additional tax expense to be recouped on all registered learnership programmes;
  • An increase in your B-BBEE compliance level.
web image

Black Economic Empowerment

The purpose of Black Economic Empowerment is to bridge the gap between formal and substantive equality to ensure that all people in South Africa fully enjoy the right to equality. At Skills Junction we intend to use the BEE strategies that we devise for you to help achieve this goal and to ensure that our services bring the BEE Level result you desire as well as helping to transform South Africa.

Black Economic Empowerment is governed by:

  • the Broad-Based Black Economic Empowerment Act, 2003(as amended);
  • the generic Codes of Good Practice on Broad-Based Black Economic Empowerment(BEE Codes). The revisions to the 2007 version of the BEE Codes were issued on 11 October 2013 and came into force on 1 May 2015; and
  • certain sector-specific Codes of Good Practice(Sector Codes). An entity operating in a sector with a Sector Code will be governed by that Sector Code and not the BEE Codes.
web image

Skills Development and Black Economic Empowerment

Skills development along with employment equity are imperative for businesses to comply with statutory and Broad-Based Black Economic Empowerment (B-BBEE or BEE) scorecard requirements.

Skills Development in South Africa has become a strategic priority for businesses that wish to attain or retain an acceptable BEE level and also meet the requirements of the Skills Development Act. The Skills Development Act provides businesses with a solid framework to implement learning strategies towards skills development that will improve the South African workforce’s skills. With the revised BEE scorecard, companies can earn maximum skills development points if they spend the required 3% or 6% of their annual payroll on skills development programmes such as SETA-accredited training initiatives (depending on the business category).

A prerequisite for recognising any points under Skills Development on your BEE scorecard is the submission of the following:

  • Pivotal Plan;
  • Workplace Skills Plan (WSP);
  • Annual Training Report (ATR) prior to the deadline in April each year.

By paying your SDLs monthly, you qualify for;

  • Skills development grants (mandatory and discretionary);
  • Substantial tax allowances when you implement learnerships in your company;
  • Businesses can qualify for a tax rebate of up to 50% of all employees below the age of 29 (youth subsidy) under certain circumstances;
  • A further R80 000 as an additional tax expense to be recouped on all registered learnership programmes;
  • An increase in your B-BBEE compliance level.