SUMMARY OF ALL RELIEF MEASURES and STEP BY STEP GUIDE TO COVID19TERS UIF – By Charteris and Barnes
This is the fourth in a series of updates pertaining to the relief measures available to our businesses and individuals. Information is continuously updated, so please note that this updated information may super-cede previous communiques.
SUMMARY OF ALL RELIEF MEASURES
Listed below is a very useful summary of the current relief measures from the South African Institute of Chartered Accountants (SAICA) of which C&B are members. The Document is listed as Annexure A at the end of this page – SAICA summary of government assistance.
The summary covers the following :
- Department of Labour (UIF, Compensation Fund, COVID19TERS (UIF)
- Department of Small Business Development (Debt relief , SMME Business growth)
- Department of Tourism (SMME’s in tourism/hospitality)
- IDC – Manufacturing of essential medical products
- Solidarity Fund – Health or humanitarian efforts
- SA Future Trust or the “Oppenheimer fund” – The fund is to provide relief to the SMME sector in the form of 5-year, interest-free loans to qualifying businesses, for the purpose of maintaining minimum weekly payments to those employees who are at risk of losing their jobs or suffer loss of income. On approval, the funds will be transferred directly to the employees’ bank accounts
- Business Partners/Sukuma Relief Programme or the “Rupert fund” – Sukuma Relief Programme is for financial assistance and aid for small and medium enterprises (SMEs) negatively impacted by COVID-19. The initiative is to support SMEs to sustain their businesses and preserve jobs. The Sukuma Relief Programme offers distinct and separate financial aid to formal sole proprietors and close corporations, companies, and trusts.
STEP BY STEP GUIDE TO COMPLETING THE COVID19TERS FORMS
Annexure B contains a simple step by step guide for you to register and complete the required documents. Our advice is to register for the temporary relief scheme even if you are paying full salaries and wages for April 2020 – this is that in the event of an extension of the lockdown, you are prepared for the relief, should you be in distress and unable to pay full or partial salaries and wages.