What we do

EdNVest wants South Africa to benefit from the lesser known and underutilized tax deductible education benefit offered by SARS. Through tax deductible expenses it has never been easier to maximize your Moola!

We have designed a platform that will allow eligible employees to effortlessly capitalize from the benefit. Our solution takes away the administrative burden and provides total peace of mind in terms of compliance.

Our vision is to improve the lives of our nation in the simplest way possible by allowing employers and employees to take advantage of the SARS tax benefit.

Basic Education

R 20 000

Minimum R 300 / month / student in savings (T&C Apply)

Tertiary Education

R 60 000

Minimum R 1095 / month / student in savings (T&C Apply)

Earnings Threshold

R 600 000

for previous financial year.

Cost to Employer

R 0

No cost incurred

Non-Taxable Bursary Benefit

Basic Education

Qualifying employees with children or relatives that are currently enrolled in Grade R – Grade 12, or NQF Level 1-4, at a recognised educational institute are entitled to an annual amount of up to R20,000 per Child, to be allocated as tax deductible expenses off their taxable income. The education tax benefits become even more significant if you currently have more than one child or relative at school.

Tertiary Education

Qualifying employees with relatives that are currently enrolled for an NQF Level 5 – 10 at a recognised tertiary education institute are entitled to claim up to R60,000 per child or relative, against their taxable income. If you and your employer use Section 10(1)(q) to factor your education costs into your gross annual salary, you can pay for your child or relative’s education pre-tax, thereby increasing your take home salary!

Employees

How we onboard

  • Your Employer will firstly need to sign up with EdNVest so we can begin the process of claiming back tax deductible expenses on your behalf.
  • Once your employer has signed up with us, you need to register for the Education Tax Benefit.
  • If you qualify, you will receive login details to your own profile where you can upload the details of the relatives whose education fees and expenses you are currently paying for.
  • Each month, you will need to upload the receipts of payments that you have made onto your profile.
  • EdNVest, along with your employer will ensure that the tax benefit reflects on your payslip.

Employees

How we onboard

  • Your Employer will firstly needs to sign up with EdnVest so we can begin the process of claiming back tax deductible expenses on your behalf.
  • Once your employer has signed up with us, you need to register for the Education Tax Benefit.
  • If you qualify, you will receive login details to your own profile where you can upload the details of the relatives whose education fees and expenses you are currently paying for.
  • Each month, you will need to upload the receipts of payments that you have made EdNVest, along with your employer, will ensure that the tax benefit reflects on your payslip.

Employers

How we assist your company

  • We provide a valuable employee incentive by facilitating a SARS education tax benefit that increases their net salary.
  • We provide all administrative and on-board training to your team to ensure they understand the working of the tax-benefit and how it can be processed on their monthly payslips, with savings from the tax deductible expenses being passed on directly to your employees.
  • EdNVest has developed an online platform to allow for rapid sign up, training and activation of bursary benefits for all employees on a digital platform.
  • There are no setup fees, hidden costs, embedded commissions or membership fees due by the employer, ensuring that education tax benefit can be delivered to all your qualifying employees, at absolutely no cost to your company whatsoever.

Become an EdNVest Agent

Are you passionate about implementing new initiatives for your customers, creating opportunities on how to save money fast, whilst having a positive impact on education in South Africa? We invite you to partner with us and become an EdNVest agent. Explore the exciting and rewarding opportunity that awaits you, as a member of our team.

how to save money fast