Charities to be hard-hit by new BEE codes

Nom Chompsky

Nom Chompsky

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Charities have been dealt another blow with the release of the new black economic empowerment codes. It has emerged that companies will no longer score meaningful BEE points by giving to the poor.

The new codes, released last Friday, have cut social development funding scores by 20 points, and businesses which supported non-profit organisations, are now exempted from compliance.

Last year the proposed codes were met with outrage when it was suggested that any business that helped a charity with white beneficiaries would not be able to use this to qualify for BEE points. This propsal was disregarded.

Black war veterans, listed as a priority group in the codes for the first time, said they were gearing up to monitor companies and the government to ensure members benefited from tenders.
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Source: http://www.iol.co.za/business/compa...d-hit-by-new-bee-codes-1.1592221#.Ul0iMNJmjIV
 
Another disaster caused by BEE racism and the cANCer don't give a shyte!!!
 
Complete idiots....firstly white poverty stricken kids were more privaliged than blacks, so they didn't really deserve the same treatment. Not both don't deserve anything, as companies will just cut funding. You must have a Sh#t mindset if you see people in colours, honestly.
 
if i understand this now, NO charities benefit from BEE?
 
Black war veterans, listed as a priority group in the codes for the first time, said they were gearing up to monitor companies and the government to ensure members benefited from tenders.
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Hopefully some of them will then stop robbing banks and hi-jacking cars.
 
****ing racist ANC tactics.
They should make it law that 80% of tax must be paid by blacks, and that 80% giving to charity must be by blacks.
Fair is fair right?
 
Round and round we go.....

Less to charities, increased social spending, depleted budgets, increased taxes, shrinking tax pool, increased taxes, more e-tolls... and eventually hello Zimbabwe....
 
STS said:
if i understand this now, NO charities benefit from BEE?
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You are wrong.

The seven elements of the codes

1. Ownership: measures the equity that black people hold in the business according to their voting rights, economic interest (including entitlement to dividends, capital gains and other rights of shareholders) and realisation points (the accumulation of net economic interest in the hands of black shareholders).

2. Management Control: measures the extent to which black employees participate at the Board level and are employed in senior management positions.

3. Employment Equity: measures the percentage of black staff employed in the business. On the QSE scorecard a distinction is made between black managers and black employees, while on the Generic Scorecard only black senior, middle and junior management employees count.

4. Skills Development: measures the extent to which the company has invested in the development of skills among black employees. It is split between skills and training, and learner ships.

5. Preferential Procurement: this element measures the extent to which a company uses the services of black-owned or BEE compliant businesses, and is based on the empowerment level of a business’s suppliers.

6. Enterprise Development: this element is aimed at developed small, black-owned enterprises. Beneficiaries must meet certain black-owned or size criteria.

7. Socio Economic Development: measures the investment that a company makes in uplifting black individuals, communities or groups, mostly through charitable means.
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Basically the ANC are not only stealing money that should be poured into helping their people, be it black, white whatever. They are now effectively ensuring charities are no longer funded.

Malema +1. At some point the poor in this country will stop ticking this fail government box.

BEE isn't just about ownerships and employees, there is a point system and tax deduction for being charitable to black/(broad they say but i dunno) run charities and so on that will help further your company, that is practically out the window now. Typical of africa though, keeping the people impoverished is their basic goal for some reason. Great news for thousands of companies but not for the poor and charities are going to suffer big time. You sense though they want to stop giving money to charities and tax more but that is just my feeling :D. Could be badly wrong. Steal from the poor, give to the rich. Gravy train needs gravy.

O i am assuming of course the charities actually helped people and didn't grab a ride on the gravy train.

So they are effectively making companies who turn over less than 10 bar exempt and BEE level 3 or 4 automatically. I think and i may be wrong but companies turning over less than 5 bar were exempt and now it's 10 bar, so no more tax deductions for thousands of companies. This is just purely enrichment by the ANC. The time has come to stand up to this government and tell em you will no longer accept their greed!!!!!!!!!!!!
 
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So not a better life for all after all .. #ProudlyBroughtByTheANC
 
Why did this not get objected to in parliament like the last bad idea?
 
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