Education is one of the best gifts one can bestow upon another – especially if it does not attract taxes.
Bursaries are not only a method of recruiting and retaining employees, but also an option to grant tax-free amounts to those receiving it.
As it is crucial to know the difference between a tax-free bursary and that which would be deemed to be income, we offer a session dedicated to this area.
This session will address matters including, but not limited to, the following:
• The exemption requirements for bursaries granted to both employees, relatives and other individuals
• Tax treatment for benefactor:
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
