Heading for the B-BBEE Year-end!!

Another two months to the end of the financial and B-BBEE year-end for many companies – and one can hear the rising energy ad frantic effort in the air!

Skills Development Expenditure (SDE) is measured based on the company figures in a specific period. This element measures the training spend on Black employed and unemployed learners during the financial year under review; this spend must be incurred before the end of that particular period and SDE is a Priority Element, which implies dire consequences if sub-minima are met!

An entity with December as year-end, who wishes to do a B-BBEE scorecard rating based on their financials for this B-BBEE period, has only a few months left to make any contributions or payments to meet their targets, as well as to do the planning for the next financial and B-BBEE measurement period.

Important to remember is that training takes time and that skills transfer has to take place within the reporting year. This means that training and learnerships should at least have started within the reporting year. The sooner learnerships start the better because any payment towards salaries or stipends for learners will also count towards acceptable contributions under this element.

BEE Consultants are very busy during these times but can provide extremely useful guidance and support. Skills College (Pty) Ltd can assist if you need to make final SDE payments.

We can also assist with doing the planning for your next cycle that needs to be put in place before the new year dawns.

Act now to avoid the rush!

View our company profile at https://www.skillscollege.co.za/ in order to acquaint yourself with our value offering. Alternatively you can reply via return email and we’ll set up a meeting to get acquainted.

We look forward to connecting with you in this regard and creating peace of mind about your BEE Skills Development Expenditure.

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