If your company requires a travel allowance that exceeds the usual individual travel limit, then you may be able to use the R 2,000,000 p/a Business Omnibus Travel Allowance. All you will need to do is to apply to the South African Reserve Bank and you can do so with Gapex.
What Does This Allowance Enable My Company To Do?
This allowance can be used by all your company’s staff. It can be used as foreign currency cash or traveller’s cheques. However, it is important to note that the Business Omnibus Travel Allowance cannot be transferred directly into an offshore bank account in the name of the staff member.
What Documentation Does Gapex Need From Me?
All Gapex will need from you is a letter, written on the company’s letterhead, which details the following information:
- The countries that will be visited by each staff member of your company;
- The number of scheduled and proposed trips per staff member for the calendar year;
- The amount in Rand needed by each staff member for the calendar year;
- The names of the staff members to which this allowance will be allocated, as well as their designation within your company; and
- A brief summary surrounding the reasons why your company will require the additional travel funds for your staff members abroad.
Will This Allowance Disqualify My Staff Members From Using Their Individual Allowances?
No. Your staff members will still qualify for their personal single discretionary allowances, including their personal travel allowances.
The authorisation for the Omnibus Travel Allowance will be in the name of the company and be available for use by your staff members. If this is what your company needs for travel purposes, then get in touch with Gapex using the form on our Contact Us page so that either Grant or Peter can contact you directly.