Chapter 12 Miscallenous Provisions

Question 1

Principles

Answer 1

agreement
Annual allowance
Trade
Apportionment
Commencement of agreement: date at which it was entered into
Termination of learner ship: no recoupment if learner leaves during the year
Completion allowance
Substitution of employers

Question 2

Enhanced allowance

Answer 2

If a learner has a disability when the learner ship agreement is entered into, then the annual and completion allowance are R50k

Question 3

Foreign exchange

Answer 3

SA tax has to be paid in Rands. Income and expenses in a Foreign currency must be converted in Rands.
For companies
Apply spot rate on the day the foreign amount was received by or accrued to the company or trust or the expenditure or loss was incurred by the company or trust.

Question 4

Learnership allowance

Two levels of allowance and two stages at which the allowance is granted

Answer 4

R30k allowance for learner ship and apprenticeship or
R50k allowance for learners with disabilities
Stages
Annually and
On completion of the learner ship