2014/15 Annual Report

Annual Report 2014/15
81
17.5. Compliance with legislation
17.5.1. Public Finance Management Act, 1999 and National Treasury
Regulations
In accordance with the PFMA and National Treasury Regulations, the
Commission submitted the following documents to the Economic Development
Department for approval during the period under review:
Request to retain surpluses generated as at 31 March 2014 (approval
obtained);
Quarterly reports on the Commission’s expenditure, budget variance,
activities and performance against set targets;
Monthly expenditure reports;
Annual Performance Plan for the period 2015–2016; and
Strategic Plan and Budget for the five-year period 2015–2020.
17.5.2. Skills Development Act, 1998
The Commission submitted the Annual Training Report and the Annual Workplace
Skills Plan on 30 June 2014.
17.5.3. Skills Development Levies Act, 1999
A skills development levy equal to 1% of the total payroll is paid to the South
African Revenue Service monthly. This is distributed to the relevant Sector
Education and Training Authorities (SETAs), which promote training in various
disciplines. Employers are able to claim back part of the skills levies paid as a
Skills Grant.
17.5.4. Employment Equity Act, 1998
The Commission submitted its Employment Equity Report in January 2015.
17.5.5. Compensation for Occupational Injuries and Diseases Act,
1993
A return of earnings was submitted in May 2015. This provides an estimated
cost of possible claims that can be lodged against the Compensation Fund in
terms of this Act.
17.5.6. Unemployment Insurance Act, 2001
For the period under review, all contributions to the Unemployment Insurance
Fund were paid on a monthly basis. These contributions consist of an employee
contribution of 1% and an employer contribution of 1%, capped at a maximum
of R148,72 per month.
17.5.7. Occupational Health and Safety Act, 1993
During the year under review, the Commission took all reasonable precautions
to ensure a safe working environment and conducted its business with due
regard for environmental issues.
17.5.8. Income Tax Act, 1962
The South African Revenue Service exempted the Commission in terms of section
10(1)(A)(i) of the Income Tax Act, 1962.
17.5.9. Levies and taxes
The Commission has registered for and met its obligations in relation to the
following levies and taxes:
Skills Development Levy;
Workmen’s Compensation;
Unemployment Insurance Fund; and
Pay-as-you-earn (PAYE).