New daily subsistence rate effective 01-Mar-2007
Posted by David Worth | 12 Mar, 2007In line with recent tax amendments, UCT's daily subsistence rate has been increased.
LOCAL
- R63.50 per day (or part thereof) if the allowance is for incidental costs only, or
- R208 per day (or part thereof) if the allowance is to cover meals as well as incidental costs.
NB: this rate excludes airfare and accommodation.
FOREIGN
- the equivalent of US $200 per day
This rate excludes airfare and accommodation but includes meals and sundries while on official university business within the country being visited.
The amounts given here are NOT to be regarded as an entitlement. These are simply the maximum amounts that can be paid without the recipient incurring tax. The actual amount paid, up to this maximum of US$200, is at the discretion of the fund holder. To put it another way - you can only get what the fund holder can afford.
Please attach a printout from this currency converter site to show the total USD and equivalent ZAR amount being claimed.
Please ensure that the latest copy of the form FM032 is used and refer to the finance website for more details on the S&T policy.