Tag: annual bonus

As the year draws to a close, the festive season emerges as a pivotal juncture for both South African businesses and consumers, laden with anticipation and opportunity. With South African consumers facing financial hardships in the form of multiple interest rate hikes and fuel price increases, research indicates that South Africans are still projected to spend over R200 billion this festive season

Receiving a bonus is an exciting event and a time for celebration to recognise the hard work you put in throughout the year. Bonuses also provide us with an opportunity to achieve our financial goals. When we think about spending the money, we need to do so responsibly.

When it comes to employee tax, a little training goes a long way towards restoring productivity. Many employees don’t understand the complex tax calculations payroll applies to their earnings each month and often question these deductions.

As the year quickly draws to a close, we have been inundated with queries regarding their expected annual bonuses in December. Many of the enquiries stem from employees who don’t know if their bonus constitutes a thirteenth cheque or a performance bonus.