Summary
Summary LSB2605 MAY/JUNE 2017 MEMO
- Institution
- University Of South Africa (Unisa)
LSB2605 MAY/JUNE 2017 MEMO
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LSB2605 May/June 2017 1st paperPreface v & vi table 1 (pages b4 unit 1)
A micro business is a business with full time employees fewer than five (5) an annual turnover less than
R0.2m (R200 000.00) and a gross asset value of less than R0.10m (R100 000.00)
A very small business is a business with full-time staff of fewer than 20.
A small enterprise is a business with fewer than 50 employees.
A medium enterprise is a business with full-time paid employees of fewer than 200.
Page 2
Once a small business is up and running and it has employees, the business is required to register as an
employer with SARS for tax purposes and with the Department of Labour for purposes of SDL, UIF, OHSA
and CIODA. Registrations with SARS has to be effective within 14 days from the date on which the
business starts employing people. Registrations is effected by completing and submitting to SARS a form
(EMP101) which must be accompanied by certain supporting documents.
Page 3
• Certified copy of the certificate of incorporation or registration
• Copy of the CM1/CM2/CM29
• Certified copy of the ID of the director or directors
• Original cancelled cheque or letter from the bank verifying banking details.
• Copy of business municipality account
• Copy of residential municipality account of at least one director
Shene memo
, • The lease agreement if the property being used by the company for business purposes is leased.
•
Page 8, 13, 15
The UIF fund was established thought the Unemployment Insurance Act 63 of 2001 and was designed to
elevate the economic hardships on employees brought about by unemployment. The fund is only
designed to provide short term financial relief for the period during which the employee is unemployed,
or unable to work due to illness or maternity leave or adoption leave. The fund is also intended to
provide financial relief to the dependant of a deceased contributor.
The purpose of the OHSA (Occupational Health and Safety) is generally to protect the health and safety
of employees at work against accidents that may arise from the use of machinery or dangerous
substances. Furthermore, the ACT also aims to protect the public at large against the activities of
workers.
The Workmen’ds Compensation Act 30 of 1941 was initially introduced to compensate employees for
any injuries sustained in the workplace. That Act was then replaced with the Compensation for
Occupational Injuries Diseases Act (COIDA) 130 of 1993, which was designed to expand the category of
people who are entitled to compensation for:
• Disablement - temporary or permanent – caused by injuries sustained in the workplace.
• Diseases contracted in the workplace.
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• Development of the skills of the south African work force
• Improvement of the levels of investments in education and training in the labour market
• Improvement of the employment prospects of people previously disadvantaged by unfair
discrimination.
• Redressing through training and education the disadvantages suffered by people through
previous discriminations laws.
• Assisting the jobless to find employment
• Assisting retrenched workers to re-enter the labour market by re-skilling them
• Assisting employers to find qualified employees
Shene memo
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