FASSET SETA in South Africa
Finance and Accounting Services SETA
Official Website
Type
Sector Education and Training Authority
Established under
Skills Development Act, 1998
Overview
Covers financial planning, accounting, auditing, tax, stockbroking, real estate, and related services. Serves approximately 168,000 employees across 14,000+ levy-paying entities.
Key Functions
Each SETA is mandated to develop sector skills plans, manage learnerships and internships, approve workplace skills development plans, disburse skills development grants, and ensure quality assurance of training.
Employer Obligations
Employers with an annual payroll exceeding R500,000 must pay 1% of total payroll as the Skills Development Levy (SDL). 80% of levies collected are transferred to the relevant SETA.
SIC Codes covered by FASSET (29)
| SIC Code | Description |
|---|---|
| 64110 | Central banking |
| 64190 | Other monetary intermediation |
| 64200 | Activities of holding companies |
| 64300 | Trusts, funds and similar financial entities |
| 64910 | Financial leasing |
| 64920 | Other credit granting |
| 64990 | Other financial service activities, except insurance and pension funding, n.e.c. |
| 65110 | Life insurance |
| 65120 | Non-life insurance |
| 65121 | Health insurance |
| 65122 | Travel insurance |
| 65123 | Transport insurance |
| 65129 | Other non-life insurance |
| 65200 | Reinsurance |
| 65300 | Pension funding |
| 66110 | Administration of financial markets |
| 66120 | Security and commodity contracts dealing |
| 66190 | Other activities auxiliary to financial service activities |
| 66210 | Risk and damage evaluation |
| 66220 | Activities of insurance agents and brokers |
| 66290 | Other activities auxiliary to insurance and pension funding |
| 66300 | Fund management activities |
| 69100 | Legal activities |
| 69200 | Accounting, bookkeeping and auditing activities; tax consultancy |
| 69201 | Accounting and bookkeeping activities |
| 69202 | Auditing activities |
| 69209 | Other accounting, bookkeeping and auditing activities |
| 70100 | Activities of head offices |
| 70200 | Management consultancy activities |
FAQ
How do I contact FASSET?
Visit the official website at https://www.fasset.org.za/ for contact details.
Which SIC codes fall under FASSET?
The allocation was published in the Government Gazette of 22 July 2019.