Cecil Kilpin | April 2016 Newsletter

By |2022-01-21T12:30:52+02:00April 1st, 2016|Newsletter|

Incentive For Employers To Provide Bursaries – No Effective Date Of Implementation: “To support skills development, government proposes to increase the fringe benefit tax exemption thresholds for bursaries provided to employees or their relatives. The income eligibility threshold for employees to access the relief will be increased from R250 000 to R400 000. The value of qualifying bursaries will be increased from R10 000 to R15 000 for National Qualifications Framework levels 1 to 4, and from R30 000 to R40 000 for levels 5 to 10.”The bulk of the proposals made in Minister Gordan’s budget speech have been "ratified" in the relative legislation. The legislation does not contain any amendments to the exemption relative to the fringe benefit tax exemption thresholds for bursaries. As [...]