The amount of employers that provide study bursaries to their employees and dependents is steadily increasing – however, so is the amount of employers and employees seeking to minimise their tax liabilities by making use of this exemption under inappropriate circumstances, as well as those that are merely uncertain how to treat these bursaries correctly for tax purposes.
Don’t get caught in the crossfire of doubt and error – ProBeta Training offers a tailored session to explore and explain the working and consequences of tax exempt bursaries.
This session is set up to address the application of the provisions regarding this matter, including but not limited to:
• Practical application examples with various scenarios and circumstances
• Tax treatment for employee:
o Requirements to qualify for exemption
o Consequences of failure to complete qualification
o Maximum amounts allowed as exemptions
o Provisions for employees vs their dependents
• Tax treatment for employer:
o Limitation to extending bursaries
o Rewarding an employee for completion
o Granting a bursary vs taking over responsibility for a study loan vs reimbursements of study expenses
o PAYE considerations
