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June 24, 2015
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The new B-BBEE landscape

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The new B-BBEE Codes of Good Practice are set to become effective on 1 May. For exempted micro-entities (EMEs) there is some good news as the threshold for EMEs has been raised from less than R5 million annual turnover to less than R10 million. EMEs will still automatically get level 4 status.For qualifying small enterprises (QSEs) – turnover of R10 million to below R50 million – there will be substantial additional workload and it will be increasingly difficult to maintain a good B-BBEE rating which could threaten their sustainability. This is disappointing coming so soon after government signalled its intention to assist these businesses with the creation of a Department of Small Business Development.As these codes are voluntary, it is a good time for QSEs to re-evaluate their business as substantial extra work and possible restructuring will be required if they wish to continue obtaining  government/public entity work or licences.

In this newsletter


  1. The new B-BBEE landscape: Ok for some, not so good for others
  2. Maak stres jou siek?
  3. Require Statutory Services? Contact StatAdmin
  4. Important dates!
Synopsis of changes
Scorecard elements have been reduced from seven to five elements:
  1. Ownership*
  2. Management control (employment equity was one of the original seven elements but is folded into Management Control)
  3. Skills development*
  4. Enterprise and Supplier Development (ESD)* (Procurement and Enterprise were previously separate elements)
  5. Socio-Economic Development
* = priority elements.For EMEs there is little change with the new scorecard.
With QSEs the position is quite different. Under the previous legislation they were required to comply with four of the seven elements. It was thus relatively easy to get a good B-BBEE rating. Now they have to comply with all five and failure to get a 40% compliance with two of the three priority elements (ownership is mandatory and they can opt for ESD or Skills Development as the second element) will drop a QSE one level in its scorecard rating.Companies with turnovers of R50 million and above will have to comply with all elements and failure to achieve 40% compliance in all three priority elements means they stand to drop by two levels.As the criteria in the new scorecard have been considerably widened, it will be more difficult to get points on the new scorecard. In addition, the points under the old system which gave an entity a level 4 rating will now mean a rating of between 5 and 7. The bar has been raised for getting a good B-BBEE rating.

Ownership
At the heart of the new amendments is ownership. Thus a QSE or EME will automatically get a level 2 rating if 51% of the business is black owned and a level 1 rating if the black ownership is 100%. In addition, these businesses will not need accredited consultants to give them a rating – a sworn affidavit will suffice.

Clearly there is an enormous amount of work and thinking to be done.

Used with permission. © DotNews, 2005-2015. This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice.
 

Maak stres jou siek?


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 Identifiseer watter areas van jou lewe stres veroorsaak en fokus een vir een daarop. Indien jy byvoorbeeld finansiële probleme het, maak ‘n afspraak met ‘n finansiële adviseur om jou te help om ‘n finansiële plan op te stel om jou finansies te orden. Dr Aiken stel voor dat jy jou familie betrek om jou daaglikse verantwoordelikhede te deel; ook dat jy grense stel, beide persoonlik en in die werkplek.


Stres is hoe ons die talle eise van die lewe hanteer. Terwyl goeie stres ons produktiwiteit wesenlik kan verhoog en ons kan help om ons werklading te hanteer, kan ongekontroleerde stres swak gesondheid veroorsaak.

Stres wat nie beheer word nie kan, volgens Liberty Mediese Adviseur Dr Philippa Peil, lei tot siektes soos hartaanvalle en maagsere sowel as oorgewig en diabetes wanneer, soos sy byvoeg, selfs ‘n gewone verkoue en gereelde griepaanvalle tekens van ‘n oorspanne liggaam kan wees.

Liberty se eise-statistieke toon dat stres een van die hoofoorsake van ongeskiktheidseise is, veral ten opsigte van muskuloskeletale en geestesiektes. Kroniese rugpyn is dikwels die resultaat van langdurige stres wat inflammasie in die liggaam veroorsaak, terwyl stresverwante angs kan lei tot meer ernstige geestestoestande soos depressie. Lees meer

 
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Require statutory services? Contact StatAdmin

 
We are proud to announce that Swanepoel and Partners has signed a Strategic Alliance Agreement with StatAdmin CC.
Through our alliance we are now able to offer our valued clients a range of statutory services.These services include (but not limited to):
  • Registration of Companies
  • Maintain of various statutory records
  • Registration of special resolutions
  • Company and Close Corporation searches
  • Deeds and ITC searches with ID number verification
  • Lodgement of annual return
Statadmin is a highly respected service provider and we are excited to be associated with them. Please feel free to make use of their services.

Contact StatAdmin to find out more:
Olivia Kruger
Tel:   012 329 1728
Cell:  082 953 4077
email: olivia@statadmin.co.za
web: www.statadmin.co.za


 

Important dates

We would also like to take this opportunity to make a few important dates to communicate that you should save on your calendar.
1 July 2015
Start of 2015 tax season for individuals and trusts.31 August 2015
IRP6 first provisional tax return (2016) and payment (only if you are a provisional taxpayer).1 September 2015
Start of Interim Employers Tax Season (March – August 2015).30 October 2015
Start of Interim Employers Tax Season (March – August 2015).

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