BANKSETA ANNUAL REPORT 2023

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2023 10. SKILLS DEVELOPMENT LEVY INCOME FROM NON-EXCHANGE TRANSACTIONS (continued) 10.1 Adjustments to levy revenue (continued)

The impact on levy income is as follows:

2022/23

2021/22

Notes

R’000

R’000

Net levies received: Administration Levies received

124 389 (1 505) 122 884

110 060 (4 386) 105 674

Deduct: Prior year levy adjustments included in levy receipts

Net levies received: Administration

10

Net levies received: Mandatory Levies received

236 347 (2 323) 234 024

208 388 (9 428) 198 960

Deduct: Prior year levy adjustments included in levy receipts

Net levies received: Mandatory

10

Net levies received: Discretionary Levies received

586 392 (7 044)

519 951 (19 737)

Deduct: Prior year levy adjustments included in levy receipts

Net levies received: Discretionary

10

579 348

500 214

11. SKILLS DEVELOPMENT LEVY PENALTY AND INTEREST INCOME FROM NON EXCHANGE TRANSACTIONS

2022/23

2021/22

R’000

R’000

Skills development levy penalties and interest income - current year Total skills development levy penalties and interest income

8 537 8 537

43 023 43 023

There were no adjustments/reversals in the current year of penalties and interest income recognised in prior years.

160

PART F: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2022/23