SASSA: Grants increase 1 April 2024

SASSA: Grants increase 1 April 2024

• 05 April 2024
• Regulatory Compliance and Legislation
• South African Accounting Academy

In the Budget Speech delivered in February, the Minister of Finance had announced that social grants across the board were set to increase over the course of 2024.

The increases to be implemented during this year are as follows:

• An increase of R100 to the old age, war veterans, disability and care dependency grants. This amount will be divided into R90 effective from April, and R10 effective October;
• A R50 increase to the foster care grant; and
• A R20 increase to the child support grant.

On 14 March 2024, the minister of social development announced that the SRD grant has been extended for another year until 2025, and would increase to R370.  This has now been confirmed (and gazetted), and affects the almost 9-million people who receive this grant. Refer to our alert on the amended SRD Regulations dated 5 April 2024

The following specific increases became effective on 1 April 2024, and represent the new grant amounts:

• SASSA old-age pension (the Older Persons Grant) will increase by R100 for the 2024 year, as follows:
  • from 1 April 2024, the grant increased by R90, which means the new grant amount is R2 180 per month for recipients between 60 and 74 years old, and R2 200 per month, for recipients over 75 years old.
  • on 1 October 2024, the grant will increase by a further R10, which means the new grant amount will be R2 190 per month for recipients between 60 and 74 years old, and R2 210 per month, for recipients over 75 years old.
• The Disability Grant will increase by R100 for the 2024 year, as follows:
  • from 1 April 2024, the grant increased by R90, which means the new grant amount is R2,180 per month.
  • on 1 October 2024, the grant will increase by a further R10, which means the new grant amount will be R2,190 per month.
• The Care Dependency Grant will increase by R100 for the 2024 year, as follows:
  • from 1 April 2024, the grant increased by R90, which means the new grant amount is R2,180 per month.
  • on 1 October 2024, the grant will increase by a further R10, which means the new grant amount will be R2,190 per month.
• The War Veterans Grant will increase by R100 for the 2024 year, as follows:
  • from 1 April 2024, the grant increased by R90, which means the new grant amount is R2,200 per month.
  • On 1 October 2024, the grant will increase by a further R10, which means the new grant amount will be R2,210 per month.
• The Foster Child Grant increased by R50 for the 2024 year, which means that from 1 April 2024, the grant is R1 180 per month.
• The Child Support Grant increased by R20 for the 2024 year, which means that from 1 April 2024, the grant is R530 per month (or R780, with the additional top-up of R250).
• The SRD (Social Relief Distress) Grant increased by R20 for the 2024 year, which means that from 1 April 2024, the grant is R370 per month.

Individuals who fall into one of the above categories and have ZERO financial support, can apply for a SASSA grant by going to the SASSA website.

Click here to access the full article:

https://www.sassagrants.co.za/sassa-grant-increases-2024/

Relevance to Auditors, Independent Reviewers & Accountants:

• As an auditor, independent reviewer, tax practitioner and accountant, you may need to assist your clients that are eligible for SASSA grants.
• You need to be aware of the latest news and updates regarding sassa grants to enable proper facilitation of assistance to your clients.

Relevance to Your clients:

• Your clients that may be eligible for SASSA grants, and would possibly require your assistance.
   

0 COMMENTS

LEAVE A COMMENT