SASSA Status Check For SRD R350

Sassa Status Check

Enter your ID and phone numbers in the SASSA status check box and check SASSA status online.

• ID Number
• Phone Number
• CHECK STATUS

Welcome to Sassa status check! Here, applicants can check their Sassa payment status, Sassa SRD balance status, SRD status check, and Sassa status check pending as well.

This website is for all the Sassa applicants who want to know their Sassa status along with SRD reconsideration pending status online.

• Status Pending
• Status Declined
• Status Failed

SRD Status Check

To do a Sassa SRD balance status check, all you need to do is provide your mobile number and receive a Sassa status PIN. After that, you can see the status of your Sassa grants.

You also need to provide your banking details to get your Sassa grant. For your information, SASSA grants are delivered every month so you can check the status of the application after every 30 days.

The South African government has issued this social relief grant for unemployed citizens. This website is free to use and we will show your SASSA status.

Also, if you want to know about the payment date of SASSA R350, you can also check here.
SASSA Status Check For R350 Payment Dates For 2024

If you are an applicant for the Sassa R350 grant and want to know the payment dates and when you will get your payment, then you can check them below.

Grant Month	Older Persons Grant	Disability Grant	Childrens Grant
April – 2023	04/04/23	05/04/23	06/04/23
May	03/05/23	04/05/23	05/05/23
June	02/06/23	05/06/23	06/06/23
July	04/07/23	05/07/23	06/07/23
August	02/08/23	03/08/23	04/08/23
September	05/09/23	06/09/23	07/09/23
October	03/10/23	04/10/23	05/10/23
November	02/11/23	03/11/23	06/11/23
December	01/12/23	04/12/23	05/12/23
January – 2024	03/01/24	04/01/24	05/01/24
February	02/02/24	05/02/24	06/02/24
March	05/03/24	06/03/24	07/03/24

The South African government has already said there is no specific date for payments.

However, all grant beneficiaries will be paid for the month they qualify for. So you can do a SASSA status check on this website.

So, it is clear that there is no specific payday or pay date when grant beneficiaries can collect their SASSA grants.

However, one thing is sure: you will get this financial aid if you are qualified for it, and you can check the status of your grant on this website.

Sassa SRD Status Check for R350 Grant Payment

• If you want to do a SASSA status check then there are three ways that you can adopt.
• After submitting your Sassa R350 grant application, you need to check for Sassa R350 status regularly to know whether you are an approved applicant or not.
• The payment date is changing so you need to check regularly.
• So here are the three methods that you can choose for knowing your SASSA status.

Check SASSA Status Online at srd.sassa.gov.za

This is one of the best and easiest ways to check your SASSA R350 status. In fact, you are reading this guide so you are already using this method.

So what do you need to do to check SASSA status? Here are the steps for the grant and check the status of your application:

• Visit the Sassa SRD website https://srd.sassa.gov.za.
• Enter your mobile number inside the box.
• Click on “Send SMS”.
• You will receive an SMS with OTP or Sassa status PIN.
• Enter your one-time password to get your SASSA status.

Keep this in mind. The payment date is not specified by authorities. However, you will get your grant cash for sure.

SRD Sassa Status Check on Moya App

Applicants have another online option for checking their Social Relief of Distress grant. They can use smartphone apps like Moya App.Install the Moya App from the Google Play Store or Apple App Store on your smartphone.

• Open the Moya app and tap on the “Discovery” option.
• Now open the link “Application Status”.
• Here you need to enter your Sassa ID number and phone number.
• Now you will be redirected to the new page where your Sassa status will be available to check.

SASSA Status Check Via WhatsApp

Now the second method to check your SRD grant is using your WhatsApp account. This method is also very easy.

Here are the steps that you need to follow:

• Type “082 046 8553” and save this number as “SASSA status check”.
• Now open your WhatsApp account.
• Head over to create a new chat option to create a new conversation.
• Choose “SASSA status check” as the contact to start a chat.
• Now type your name, surname, and South African ID number in the message and send it.
• Now you will get your social grant status.

Check SRD R350 Grant Application Status Via Phone Call

The third and last method for the SRD status check of the SRD grant application status is through a phone call. Just follow these steps:Open your phone dialer.

• Dial 080 060 1011.
• Tell your ID number and get the status of your application.
• So these are the three methods for the Sassa status check and every applicant can choose to check the social relief grant application status.
• 
  

SASSA Grant Results Meanings

If you are not familiar with the Sassa status meanings then check out the below table.

Sassa Grant Status	Result Meanings
Sassa Status Pending	This result means that your application is in progress or verification process.
Sassa Status Declined	This result means that your Sassa application is declined due to certain reasons.
Identity Verification Failed	This status means that your identity information did not match with the DHA (Department of Home Affairs) database.
Bank Details Pending	This result shows that your application is approved but you need to submit banking details to receive your grant payment.
Reapplication Pending	The results show that the beneficiary did not apply for reapplication.
Application Approved	The result means that your Sassa R350 application is approved in the reapplication process. Now you will get your cash.
Status Cancelled	Your application for Sassa is now cancelled. If you need to reinstate your payment then appeal for reinstatement now.
Period Pending	Your application is received but Sassa will verify it and the verification is pending.
Period Approved	This status means that your application is approved for the period and you will get your Sassa payment now.
Period Declined	Your application is declined for this month only and you will get your payment from the next payment month.

Apply for Special COVID-19 Social Relief of Distress Grant

Here is how to apply for a special COVID-19 Social Relief of Distress grant.

Step 1.1: SASSA Online Application Via SRD Website

• This is a fundamental method that you can use. So, let’s see how you can apply using the official SASSA website. Open your web browser and go to Google.
• Now search for “https://srd.sassa.gov.za” in the search bar.
• Open the very first website.
• Now, enter your ID number and phone number.
• Once the cellular phone number is provided, click on the “Send SMS” button.
• You will receive a 6-digit OTP that you need to enter again on the website.
• Now click verify PIN.

Step 1.2: SASSA Application Via WhatsAppOpen your WhatsApp app.

• Send a message to “082 046 8553”.
• Now you will get some prompts that you need to follow.
• Provide your personal information like identity, residency, income, and social security benefits.
• Now you will receive a reference number, a clickable URL, and an OTP.
• You must click on that URL and enter the OTP there.
• You also need to provide your ID number and surname.

Step 1.3: SASSA Application Via ChatBot

• The third way to get registration with the SASSA financial assistance is to use a chatbot. Here is how to do it: Open your web browser.
• Type “www.sassa.gov.za” in the web URL bar
• Now click on “SASSA R350 Grant assistance chatbox.”
• Enter your mobile and ID number.
• Now choose ” I want to apply for SRD R350
• grant”.
• The chatbot will send you a website link that you need to follow.

How to Collect the SASSA Grant Payment?

If you are approved for a grant application and you want to know how to collect grant payments then here are the options. Applicant can collect grant cash from:

• Post Office branches (SAPO/Post Bank).
• Bank Mobile Money Transfer.
• Boxer Stores.
• Pick-N-Pay.
• Cash Send.

Sassa Grant Types

SASSA stands for South African Social Security Agency. They are offering a social grant to people who are suffering from poverty. They provide basic needs like food, clothing, and a home. Below are the major types of Sassa grants:

• Social Relief of Distress SRD R350 Grant
• Care Dependency
• Foster Child
• Child Support Grant
• War Veterans
• Disability Grant
• Older person’s Grant
• Grant-in-Aid

Eligibility Criteria for SASSA R350 Grant

Below are the rules that every applicant must fulfill in order to get approval from SASSA aid. The grant is only for South African citizens, Asylum Seekers, Special Permit Holders, and Refugees.

• You should not be receiving any other financial assistance.
• The age limit is 18-60 years.
• Not receiving any social grants.
• Not have any unemployment insurance benefits.
• Not applied for UIF payment.
• The financial status must fall in the poor category.

F.A.Q

How to check Sassa SRD R350 payment status?

• You can check Sassa SRD status using your ID and phone numbers on the official Sassa website.

What is the Sassa status check for R350?

• Sassa Grant is financial assistance for all the unemployed people in South Africa.
• So, the Sassa status check for R350 is a process where an applicant can check the status of the Sassa grant online.

How do I check my Sassa status on Govchat?

You need to visit the GovChat application or website, enter your ID number and phone number and check your SRD status.

What is the Sassa means test?

A Means test is a verification process from Sassa to check the eligibility of Sassa grant applicants.

How to check Sassa reconsideration status?

• To check your Sassa reconsideration status, you need to visit the website
• srd.sassa.gov.za and enter your Sassa account details to get your appeal status.

Can I check the SASSA R350 payment status?

Yes you can check Can I check SASSA R350 grant payment status? You must visit the Sassa website and provide your account information.

How to check the status of the SRD grant application status?

There are three ways to check the status of the SRD grant. You can use the online website WhatsApp and make a call on a toll-free number.

What is the SASSA R350 Social Relief grant?

During the COVID-19 pandemic, so many people lost their jobs, and they even went bankrupt.

So, the government of South Africa decided to allow an allowance to needy and jobless people. So, this is a grant for unemployed citizens.

How to track a SASSA status check?

You must visit the SRD website, enter your phone number, and provide OTP to perform the SASSA status check online.

What is the payment date for the R350 grant?

You will get an SMS with a payment date when your application is approved.

When is the official SASSA recently released statement?

The official SASSA recently released a statement about new payment dates. Soon, the pending payment will be sent.

How do I check the Sassa status of my R350 grant application in January 2024?

The answer is very straightforward. You will need to visit www.sassa.gov.za and then open the website. Now navigate to Sassa status check and enter your ID and phone numbers.

You can do a Sassa payment status check with this method.

How do you apply for a South African Sassa Agency grant?

Make sure that you have passed Sassa’s mean test. Afterward, you can open the official Sassa website and go to the “Sassa’s status check” section. Here, check the status along with the balance.

Why can’t I check the status of my SASSA grant application?

There must be some issues with your Sassa grant application if you are unable to check the status of it.

You need to contact Sassa directly and ask them to help you.

What is the Sassa verification process?

Sassa uses the verification process to determine whether an applicant is able to qualify for a Sassa grant or not. So this is a mandatory step for the Sassa officials.

When will I get Sassa’s status approval?

Sassa takes 90 days for Sassa application status approval. For updates, applicants need to visit Sassa’s status check website regularly.

How to get Sassa’s status pin?

To get Sassa’s status pin, enter your phone number and click on get the pin. You will receive an SMS that will be your PIN or OTP.

What is the Sassa reconsideration portal?

The Sassa consideration portal is a web page where you can apply for a Sassa appeal.

How do you use the Sassa online portal service?

The Sassa website or online portal is a page where applicants can apply for the SASSA status check page SRD r350 grant application. To use this service, you must visit the portal and submit your ID and phone numbers.

Sassa status approved? What to do to get payments?

If your Sassa status is approved then you will get your grant payment very soon. Ensure you have added your bank details to receive your grant payment.

How do we deal with SASSA's pending status?

If your status is pending then you need to wait for some time. There are millions of applications that Sassa is dealing with, so your Sassa’s status will be updated soon.

What are the Sassa payment dates?

Sassa's payment dates are not exact dates. The payday is not the same every month. It can also be on the 5th of November or the 8th of November.

Where to check the status of the Sassa SRD R350 grant application?

To check the status of the Sassa SRD R350 grant application, you need to visit the SASSA’s status website. And you need to navigate to the check status page.

From there, you must enter your cell phone and ID numbers.

Why can’t I check Sassa’s online application status?

If your application status is unavailable, you need to contact the Sassa official immediately. You can also visit the Sassa offices to file a complaint.

Why is Sassa’s status saying “Bank details pending’?

The bank details pending mean you haven’t added any bank account details to get your Sassa grant.
Sassa’s status check says “Reapplication Pending.” What does it mean?

The approximate period for reapplication is two to three months, so you will have to wait 90 days. So your Sassa’s status for reapplication will stay pending during this time.

What are Sassa's payment dates for 2024?

You can check all the Sassa payment dates for 2024 on our website. The schedule for the 2024 pay date has already been added.

SASSA status check failed; why?

To deal with a failed Sassa status check, you must apply for a reconsideration appeal. Or you can call the Sassa toll-free number 0800601011.

You can also visit the Sassa head office or any specific post office location to talk about your Sassa status checks.

How do I know my pay date for the Sassa grant?

Sassa’s grant for social relief of distress is being paid every month. There is no specific day that you can count as a pay date. The Sassa official will confirm with you via SMS, and if your bank details are correct, you will get your payment.

How do I change my bank details on SASSA status?

If you want to change the baking details on your application, you must visit the Sassa head office. Also you can make a call to the helpline as well.

Who is eligible for Sassa grants?

If your income status is below average, you can apply for a Sassa SRD grant for COVID-19. Just provide your cell phone and ID number to get your monthly payment.

SASSA Status Check

Do you find out your SASSA SRD status check? If yes, then we are happy to assist you today. We have tried to help you with the R350 grant application status check and verification process.

From checking status to applying for grant payments, we have provided everything. You can rest assured that you will get your grant money soon.

Read More

Unlock Your Future: Mark Your Calendar for the NSFAS Closing Date in 2024

Introduction to NSFAS

As a student, navigating the world of financial aid can be overwhelming. With tuition fees on the rise, many students rely on scholarships and loans to pursue their education. One of the most prominent financial aid programs in South Africa is the National Student Financial Aid Scheme (NSFAS). NSFAS provides funding to eligible students who cannot afford the cost of tertiary education. However, to ensure that you take advantage of this opportunity, it is crucial to understand the NSFAS closing date.

Importance of the NSFAS closing date

The National Student Financial Aid Scheme (NSFAS) opened applications for the 2024 academic year on 21 November 2023 and closed them on 31 January 2024.

The NSFAS closing date is the last day for students to submit their applications for financial aid. It is a critical deadline that determines whether or not you will be considered for funding. Missing this deadline means you may have to wait another year to apply, potentially delaying your educational journey. Therefore, staying informed about the NSFAS closing date is essential to secure the financial support you need for your studies.

Understanding the NSFAS closing date

The NSFAS closing date is set by the organization to allow sufficient time for the processing of applications. It is typically announced well in advance, giving students ample opportunity to gather the necessary documentation and complete their applications. The closing date serves as a cutoff point, after which NSFAS will no longer accept new applications for that particular academic year. It is crucial to note that the closing date may vary from year to year, so it is essential to stay updated.

How to stay updated on the NSFAS closing date

To ensure that you get the NSFAS closing date, there are several steps you can take to stay informed. The first and most reliable source of information is the official NSFAS website. Regularly check their website for any updates or announcements regarding the closing date. Additionally, follow NSFAS on social media platforms such as Facebook and Twitter, as they often share essential information. Another useful resource is your educational institution's financial aid office. They can provide accurate and up-to-date information about the NSFAS closing date.

Marking your calendar for the NSFAS closing date in 2024

To avoid any last-minute rush or potential confusion, it is highly recommended to mark your calendar with the NSFAS closing date in 2024. Doing so will give you a visual reminder of the deadline, allowing you to plan and prepare well in advance. Set a notification on your phone or computer to remind you of the approaching date. Additionally, consider creating a checklist of all the necessary documents and requirements, ensuring everything is ready before the closing date.

What to do if you miss the NSFAS closing date

Despite your best intentions, unforeseen circumstances make it possible to miss the NSFAS closing date. If you find yourself in this situation, it is essential to take immediate action. Contact the NSFAS office directly and explain your situation. They may provide guidance on any alternative options available or advise you on how to proceed. However, it is essential to note that missing the closing date may significantly reduce your chances of receiving financial aid, so it is crucial to strive to meet the deadline.

Tips for preparing your NSFAS application before the closing date

To maximize your chances of a successful NSFAS application, it is crucial to prepare well in advance. Here are some tips to help you:

• Start early: Gather the required documents and information as soon as possible. This includes your identification documents, proof of income, academic transcripts, and other supporting documentation.
• Double-check your eligibility: Ensure you meet all the eligibility criteria before submitting your application. This includes household income, academic performance, and South African citizenship or permanent residency.
• Seek guidance: If you have any doubts or questions about the application process, reach out to your educational institution's financial aid office or NSFAS directly. They can provide you with the necessary guidance and support.
• Proofread and review: Before submitting your application, thoroughly review all the information you provided. Check for any errors or missing details that could delay your application's processing.

Common mistakes to avoid when applying for NSFAS

While applying for NSFAS, it is essential to avoid common mistakes that could hinder your chances of receiving financial aid. Here are some mistakes to watch out for:

• Missing documents: Ensure you include all the required documents with your application. Please complete the documents to avoid delays or even rejection of your application.
• Inaccurate information: Double-check all the information you provide to ensure its accuracy. Any discrepancies may raise red flags and impact the processing of your application.
• Late submission: Don't procrastinate when it comes to submitting your application. Submitting it well before the closing date will give you peace of mind and allow sufficient time for any potential issues to be resolved.
• Neglecting follow-up: After submitting your application, stay proactive and follow up with NSFAS to ensure that it is being processed. This will help you address any additional requirements or queries promptly.

Frequently asked questions about the NSFAS closing date

• Can the NSFAS closing date be extended? The NSFAS closing date is typically firm and rarely extended. It is crucial to plan and submit your application before the stated deadline.
• What happens if I submit my application after the closing date? Applications submitted after the closing date are generally not considered for that particular academic year. It is essential to submit your application on time to avoid disappointment.
• Can I apply for NSFAS in subsequent years if I miss the closing date? If you miss the closing date, you can still apply for NSFAS in subsequent years. However, striving to meet the deadline to secure financial aid for the desired academic year is advisable.

NSFAS Application for dates 2024-2025

The official opening date for the NSFAS Online Application web portal has been released. The date set for new applicants to apply online through the myNSFAS Student portal is December 2023 to 31 January 2024. New Applicants are advised to apply on time with all the needed materials for the online application for the 2024 NSFAS academic year.

University in South Africa

Considering the actual expenses the university spends (the cost of private housing cannot be higher than that of university housing), R7 500 is set aside each year for transportation (up to 40 kilometers from the institution). The total amount spent on living expenses each year is R15,000.
The annual salary for The Cover’s Book is R5200.
Students living in catered apartments must pay an extra R2900 annually for incidentals and personal care.

Tvet College in South Africa

• Offer a city apartment for R24,000 each year.
• Peri-urban homes are available for R18,900.
• The yearly cost of remote housing coverage is R15,750, while the cost of transportation is R7,350 (up to 40 km from the Institution)
• The Cover Transport Incidental/Personal Care Allowance is worth R 2900 annually.

Who qualifies for the NSFAS bursary program?

• If you are a citizen of South Africa, intend to enroll in or are currently enrolled in a public university or TVET college, and complete the qualifications outlined below, you may be eligible for an NSFAS bursary.

NSFAS Online Application Requirements

• Must be a South African citizen / permanent resident
• Combined gross household income should not exceed R350 000 per annum
• Combined gross household income (persons living with disabilities) should not exceed R600 000 per annum
• SASSA recipients automatically qualify for financial eligibility
• Must have email and cell phone number

Conclusion

The NSFAS closing date is a pivotal moment for students seeking financial aid. By marking your calendar and staying informed, you can ensure you meet the deadline and maximize your chances of receiving funding. Remember to prepare your application well in advance, avoiding common mistakes that could hinder your progress. Stay proactive and seek assistance when needed. With careful planning and attention to detail, you can unlock the future you deserve through NSFAS.

Also, Read the Following:

• NSFAS Status Check Made Simple: Ensure Your Financial Aid Journey is on Track
• How much students funded by the NSFAS owe higher education institutions
• A Step-by-Step Guide on How to Order NSFAS Laptop Online

Read More

NSFAS Status Check Made Simple: Ensure Your Financial Aid Journey is on Track

Introduction to NSFAS

As a student, navigating the world of financial aid can be overwhelming. The National Student Financial Aid Scheme (NSFAS) is a South African government initiative to assist eligible students financially. Whether you are applying for an NSFAS bursary or have already submitted your application, staying updated on your NSFAS status is crucial. This article will explore what the NSFAS status check entails, why it is crucial, and how you can quickly check your status online.

What is the NSFAS status check?

The NSFAS status check allows you to track the progress of your financial aid application. It provides valuable information on whether your application has been received, processed, or approved. By checking your NSFAS status regularly, you can ensure that your application is on track and take any necessary steps to resolve any issues that may arise.

Why is it important to check your NSFAS status?

Checking your NSFAS status is essential for several reasons. Knowing that your application is being processed gives you peace of mind. It also allows you to plan and make informed decisions about your education. Knowing your NSFAS status lets you determine if you need to explore alternative funding options or adjust your budget. Additionally, staying updated on your NSFAS status helps you stay organized and proactive throughout your financial aid journey.

How to check your NSFAS status online

Checking your NSFAS status online is a convenient and straightforward process. Follow these steps to stay updated on your financial aid application:

• Visit the official NSFAS website (www.nsfas.org.za) and click the "MyNSFAS" tab.
• Log in using your username and password. If you don't have an account, you can create one by clicking the "Register" button.
• Once logged in, select the "Check Your Application Status" option.
• Provide the required information, such as your ID or student number, and click the "Submit" button.
• Your NSFAS status will be displayed on the screen, indicating whether your application is still being processed or if a decision has been made.

Remember to check your NSFAS status regularly for any updates or changes. It is also advisable to keep a record of your NSFAS login details in a safe place for future reference.

Checking your NSFAS application status through the NSFAS contact center

If you prefer to check your NSFAS application status over the phone, you can contact the NSFAS contact center. Follow these steps to inquire about your status:

• Dial the NSFAS contact center number: 08000 NSFAS (08000 67327).
• Listen to the voice prompts and select the option for application status inquiries.
• Use the keypad to enter the required information, such as your ID or student number.
• Wait for a representative to assist you with your NSFAS status inquiry.
• Take note of the information provided by the representative and ask any additional questions you may have.

The NSFAS contact center is available Monday to Friday, between 08:30 and 17:00, to assist you with your inquiries.

Common issues with NSFAS status checks and how to resolve them

While the NSFAS status check process is designed to be smooth and efficient, there may be instances where you encounter issues or discrepancies. Here are some common problems and their potential solutions:

• Application not found: If your NSFAS status check indicates that your application was not found, double-check the information you provided. Ensure that you entered your ID number or student number correctly. If the problem persists, contact the NSFAS contact center for assistance.
• Application still being processed: If your NSFAS status suggests your application is still being processed, be patient. Due to the high volume of applications, the NSFAS application review process can take time. However, if an extended period has passed without any updates, you can contact the NSFAS contact center for clarification.
• Application rejected: If your NSFAS status shows that your application has been rejected, it is crucial to understand the reason behind the decision. Contact the NSFAS contact center to inquire about the specific reasons for the rejection. They can provide guidance on possible alternatives or steps to rectify the situation.
• Incorrect personal details: If you notice any discrepancies in your personal details during the NSFAS status check, such as your name, ID number, or contact information, contact the NSFAS contact center immediately. Providing accurate information is vital to ensure proper processing of your application.

Remember, promptly addressing any issues or discrepancies is essential to prevent further delays or complications in your financial aid journey.

Tips for staying on track with your financial aid journey

Managing your NSFAS status and staying on track with your financial aid journey can be challenging. Here are some tips to help you navigate the process smoothly:

• Stay organized: Keep all your NSFAS-related documents, including your application reference number, in a safe and easily accessible place. This will make it easier to refer to them when needed.
• Set reminders: Regularly check your NSFAS status and set reminders to do so at specific intervals. This will help you stay updated and take prompt action if required.
• Communicate proactively: If you encounter any issues or have questions about your NSFAS status, don't hesitate to contact the NSFAS contact center. They are there to assist you and provide the necessary guidance.
• Explore additional resources: Take advantage of the resources provided by NSFAS, such as their website and social media platforms. They often share valuable information and updates that can help you navigate your financial aid journey more effectively.

By following these tips, you can stay organized, informed, and proactive throughout your financial aid journey.

Additional resources for managing your NSFAS status

In addition to the NSFAS website and contact center, other resources are available to help you manage your NSFAS status effectively. Here are some suggestions:

• NSFAS social media channels: Follow NSFAS on platforms like Facebook and Twitter to stay updated on the latest news, announcements, and helpful tips.
• Student support services: Many educational institutions have dedicated support services for students receiving financial aid. These services can provide additional guidance and assistance in managing your NSFAS status.
• Financial counseling: If you require further assistance in managing your finances or have questions about budgeting, consider seeking advice from a financial counselor or advisor. They can provide personalized guidance based on your specific circumstances.

Remember, managing your NSFAS status is just one aspect of your financial aid journey. It is essential to take a holistic approach to your education and finances.
Conclusion

Checking your NSFAS status is crucial in ensuring your financial aid journey is on track. By regularly monitoring your status, you can stay informed, address any issues promptly, and make informed decisions about your education. Whether you check your NSFAS status online or through the contact center, remember to stay organized and proactive and seek assistance when needed. With these tips and resources, you can confidently and easily navigate the world of NSFAS.

Also Read the following:

• A Step-by-Step Guide on How to Order NSFAS Laptop Online
• How much students funded by the NSFAS owe higher education institutions

Read More

What Are Some Tax-Saving Tips In 2024 From The Pro?

It is already the middle of 2023, and you are still considering reducing your tax money. With so much time already elapsed, you are left short of time, and still, there is a lot to do.

Earning big money is, of course, tempting, but you can’t deny the fact that with big money comes hefty taxes. Tax planning is tedious, but you must jump into this to save money. Hiring professional accountants is always recommended because they can reduce taxes with their proven tax-saving skills. If you want to do it independently, below are some tips you must follow in 2024.

Make More Contributions To Your Retirement Plans

It is indeed one of the best ways to save your tax money. You have to establish retirement accounts and contribute more money to them. The money submitted to the retirement account is later deducted from your income taxes. The best part of setting up a retirement account is that you also get investment earnings from those accounts but don’t have to pay taxes.

Ditch Bad Investments

If there are terrible investments, like those not generating profits, it is high time to dump them. For instance, if you have invested in mutual funds and the losses have reached up to $3000, consider them. If you don’t do that now, you will likely carry those losses to the next tax year.

Establish Charity Funds

Even if you hire an accountancy firm to help you cut your tax expenses short, they would advise you to establish a charity fund and start donating to your favorite charities. Doubling up your deductions is the best way to claim them.

Don’t Overlook Medical Deductions

Most business owners buy health insurance. However, they still need to understand the difference between health insurance and having a health savings account. Establishing a health savings account is highly beneficial as it covers all medical expenses. When selecting this account with your bank, you also get deductions from your insurance plan. The money you submit to this account is yours forever, and you can withdraw it once you reach age 65. It is one of the most essential tax-saving tips you must follow.

Get Benefit From Exclusion Gifts

In 2019, they increased the gift tax exemption from $14,000 to $ 15,000. You can easily save tax on this money by donating a gift to a family member. Parents can donate gifts to their children and keep their tax money by utilizing it within their homes. These exemptions are made yearly; you don’t have to worry about the lifetime exemption limit.

Make Depreciation Deductions

Depreciation is the best opportunity to reduce your money. Whether you are a small business owner, you will get this opportunity every year. All you have to do is buy some new equipment and take write-offs on those purchases. To enhance your depreciation deductions, you can also buy vehicles. So, what you are waiting for is if you are running a business, just talk to your tax preparer and make some new purchases.

Bottom Line!

Remember to follow these tips to save your tax money. These simple tips are truly award-winning when cutting short your tax expenses.

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Should you invest in Silver Bullion?

Although there isn't the hype around silver as there is gold, it is worth mentioning and taking a good look at. Silver investing is a thing, and remember, silver was another precious metal that sailed away on ships and was pirated. It was one of the first forms of money. In fact, it was used for money more often than gold. And just like gold, it is of value, even when paper money is losing value.

With stocks and bonds, you invest in someone else's company and actions. You cannot control their actions, but you can predict them. With silver, it is a physical thing. Once you purchase it, it is yours, and you can store it away for later. There is less risk with silver as the banks or other parties cannot default on it. And, once you purchase it, nobody can take it away without reason. It is yours to keep until you sell it or pass it down to someone.

Silver Bullion is a physical Asset.

According to https://marketbusinessnews.com/lear-capital/218363/, silver bullion is a physical asset. It means it is protected from cybercrime, and digital things have gone wrong. You can be as private and confidential as you want with it. There is no accidental erasing or loss.

Silver bullion, in general, is much cheaper than gold and has very similar ups and downs. So, you can invest less and get the same outcome. Silver has had a better track record than gold for increasing its value. This means its value has gone up much faster and higher in relativity than gold. It will help diversify your portfolio just as good as gold. But you can get in at a lower price point. It is affordable and makes great gifts as well.

Because it is less costly, there are more buyers for it. So, when you want to sell it, it is easier to get rid of than gold. When you have a small pile of silver, you can sell a small piece to help you get through a hard time without selling off something valuable. You can not break up coins or bullion, so it is easy to sell off gold and get more than you need.

Silver is used everywhere!

The governments don't hold silver as they do gold. They have let it deplete significantly since the late '90s. However, if it was ever needed, the government would be ill-prepared to meet that need. And this would cause the prices to skyrocket in return. This is not just the US; all governments have let much of their silver deplete.

Silver use is growing. You probably didn't know this, but you use silver every day in something. It is used for industrial products all the time. It is used in solar panels, medical, electronics, and batteries. Silver is everywhere worldwide, another excellent reason to invest in silver bullion. It is said that modern life wouldn't exist without it. Because of its unique and rare characteristics, it is being used in various markets.

Yes, yes, yes, you should invest in silver bullion!

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UAE FTA VAT Audits – What Can You Expect?

Under the Cabinet Decision No. (36) of 2017 on the Executive Regulation of Federal Law No. (7) of 2017 on Tax Procedures and Federal Decree Law No. 18 of 2022 (Amended Decree Law) amending Federal Decree Law No. 8 of 2017 (Decree Law) effective from January 1st, 2023, VAT returns form a legally binding statement of your tax liabilities as a self-declared assessment.

This means the preparation and accuracy is the responsibility of the taxable person and is subject to UAE FTA VAT audits to verify the accuracy of tax liabilities and compliance to the prevailing legislation.

Following the introduction of VAT in 2018, the 5-year statute of limitation results in any VAT declarations being no longer subject to any FTA VAT audits. Therefore 2023 represents the final year the FTA can trigger audits or invoke provisions under the Amended Decree Law. However, under Article 79 of the Amended Decree Law for Statute of Limitations grants the FTA an additional four years to undertake an audit, providing that it has issued a notice for audit or assessment before the expiration of the general statute of limitations of five years.

As a result, the FTA is likely to increase its focus on audits. In our series of articles, we discuss the key questions surrounding FTA VAT audits.

What Is A Tax Audit?

Under the Organisation for Economic Co-operation and Development (OECD) guidelines, an audit is defined as:

“Examination of whether the taxpayer has correctly assessed and reported their tax liability and fulfilled other obligations.”

The UAE VAT system operates under a self-assessment basis and therefore audits are considered essential to promote voluntary compliance. They seek to:

• Identify non-compliance to the Legislation
• Gather intelligence on the state of the tax system.
• Gather supply chain information (an audit on any business could trigger an audit on another business)
• Educate businesses and assist on implementation of the law and identify areas that require may require clarification

Your business may have filed VAT returns and in some cases received refunds without any audit procedure.

This does not necessarily mean the FTA has accepted any non-audited business as compliant. They reserve the right to audit any business for up to 5 years, hence it should be your responsibility to remain compliant and proactive to any changes to the Legislation.

Conducting audits are a time-consuming procedure and the approach is designed to maximise the accurate provision of information to allow the FTA to perform audits at scale. The tax authority will require access to accounting records, documentation and personnel to conduct their audit.

When & What triggers An FTA VAT Audits?

An audit can be triggered by a variety of factors and may not be solely determined by the size of the business. The timing for any audit cannot be predicted, nevertheless, several criteria most likely lead to an audit:

Criteria	What Factors Increase Risks?
System Generated	The FTA system can flag for a range of exceptions and anomalies. This could be based on: -        Payment position and owed taxes -        Comparison to peers in your sector -        Variations across your returns
Type Of Business	Examples include: Cash based businesses Businesses subject to customs and duty processes Businesses subject to refund claims such as exporters, healthcare and education
Supply Chain	If a customer or supplier has been subject to an audit
Size of Business	Volume of business and scale of operations
Public Referrals	A notification to the FTA by the public

What are the Legislative Powers?

The Legislation grants the FTA wide-ranging powers to ensure compliance is met. These powers (set out across six documents issued under the VAT Legislation) grant the FTA powers to compel businesses to full disclosure and also subject penalties for non-compliance. In terms of the specific audit procedures, the law grants:

Legislation Reference	Authority Granted
Federal Decree-Law No. (13) of 2016 On the Establishment of the Federal Tax Authority	Inspect taxpayers’ records and documents Review tax returns and reports submitted to the FTA, audit them, decide on approving or amending the same, or request for additional information or documents Demand access to any information or data available with any third party who may possess information about a person being subjected to a tax audit which may be necessary for the tax audit process Demand from any person having dealings with a person subject to a tax audit to provide information about such transactions
Cabinet Decision No. (36) of 2017 on the Executive Regulation of Federal Law No. (7) of 2017 on Tax Procedures	Accounting records and commercial books including Accounting books, which include records of payments and receipts, purchases and sales, revenues and expenditures, and any business, and any matters as required under any tax law or any other applicable law, including: Balance sheet and profit and loss accounts Records of wages and salaries Records of fixed assets Inventory records and statements (including quantities and values) and the end of any tax period, and all records of stock-counts related to inventory statements The FTA may require any other information in order to confirm through an audit trail the person’s tax obligation including any liability to register for tax purposes
Federal Decree Law No. 18 of 2022 (Amended Decree Law) amending Federal Decree Law No. 8 of 2017 (Decree Law) effective from January 1st, 2023	Under Article 79 of the Amended Decree Law for Statute of Limitations, grants the FTA an additional four years to undertake an audit providing that it has issued a notice for audit or assessment before the expiration of the general statute of limitations of five years.

What Are The Audit Procedures?

It is likely the FTA will conduct audits in the following manner to enable scale and efficiency. At each stage the penalty assessments increase for any disclosures affecting underpaid taxes or noncompliance.

Initially, the emphasis may be on remote, desk-based audits where system data and documentation provide is the primary assessment model.

If this is considered unsatisfactory, an onsite audit may occur which will require further preparation. In summarising the procedural aspects, the below table provides further clarity:

	Requirement	Impact
Notice of Audit	Respond within specified time to FTA 5 days’ notice of onsite audit	Voluntary disclosure penalty increases to 30%
Remote Audit	Provide ledger data and documents which may include Invoices/credit notes Accounts VAT return calculations System generated FTA VAT Audits File or equivalent	Follow up questions to be responded to in specified timescalePenalty for voluntary disclosure submitted increases to 50%
On Site Audit	The FTA will expect full cooperation to facilitate and assist the audit and would inspect documents, assets and premises	They can enforce removal of documents and asset if required and require open access to people to interview

Sufficient depth in documentation, completeness of transactional data, clarity and responsiveness will be essential to satisfy audit procedures. Therefore, preparation in providing a complete and timely response is essential.

What Could Result From An FTA VAT Audits?

An audit could lead to several outcomes subject to the satisfaction of the FTA on the completeness and accuracy of the audit response. This can range from:

- Assessment and penalties for non-compliance and underpaid taxes
- Further procedures and penalties if additional issues are identified

How We Can Help?

If your business is subject to an FTA VAT audits, as a FTA Tax Agency operating to ISO 9001 & 27001 standards, we have experience and understanding with a structured approach to assess, prepare and support you through the audit procedures. Our experienced team can quickly identify risks and seek to determine the optimal approach to satisfy FTA procedures.

While this article provides high-level guidance, it is not a substitute for tax or legal advice, and we encourage you to seek advice regarding the specific matters that concern you. If you wish to speak to us, you may contact us for a no obligation consultation.

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