BANKSETA AR 31 AUGUST

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2022

10. SKILLS DEVELOPMENT LEVY INCOME FROM NON-EXCHANGE TRANSACTIONS (CONTINUED)

The impact on levy income is as follows:

2021/22

2020/21

Notes

R’000

R’000

Net levies received: administration Levies received

110 060 (4 386) 105 674

81 998 (9 549) 72 449

Prior year levy adjustments

Net levies received

10

Net levies received: mandatory Levies received Prior year levy adjustments

208 388 (9 428) 198 960

155 316 (18 467) 136 849

Net levies received

10

Net levies received: discretionary Levies received

519 951 (19 737) 500 214

387 326 (44 770) 342 556

Prior year levy adjustments

Net levies received

10

11. SKILLS DEVELOPMENT LEVY PENALTY AND INTEREST INCOME FROM NON-EXCHANGE TRANSACTIONS 2021/22 2020/21 R’000 R’000

Skills development levy penalties and Interest income - current year Total Skills development levy penalties and Interest income

43 023 43 023

47 490 47 490

The effect of discounting was considered and found to be immaterial. There were no adjustments/ reversals of penalties and interest income recognised in prior years.

157

PART E: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22