bonus any one ?

SoulTax said:
Some people are bad at financial planning or don't understand the issues with a 13th cheque. Like resigning in September and not getting that portion of your money that technically should be owed to you. Or the fact that the money is sat in your company's account earning them interest, instead of your own.

I detest the 13th cheque salary model, to the extent that if a company that offered me a job, operated this way and were not willing to change me to a 12 cheque pay model, I would turn down the job.
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This 13th check business is due to legacy. In times gone bye, when I was a small child, it was customary... it seems to have been retained and is now more a case of expectation rather than the rule.
 
1441568916 said:
This 13th check business is due to legacy. In times gone bye, when I was a small child, it was customary... it seems to have been retained and is now more a case of expectation rather than the rule.
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Yes, but if there is a company out there that prefer to see it as a rule, I wouldn't work for them without being skint and desperate.
 
Since my review was last week and I was given a bull**** excuse why I'm not getting an increase, I doubt I'll be getting a bonus.... Which sucks because I use it to pay for my nephew's fees... :mad:
 
Ahh so that wonderful company you work for is not as wonderful as it would seem LOL.
Maybe they shouldn't have overspent on renovations.
 
we get our bonus in september. usually in the range of 8 to 10% of annual basic. capped at 15%. and we have the 13th cheque option which you can deduct money for. Then two months through the year where the company share scheme pays dividents. Then my yearly tax return in July.
 
1441568916 said:
Ahh so that wonderful company you work for is not as wonderful as it would seem LOL.
Maybe they shouldn't have overspent on renovations.
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Renovations, Year End function, upcoming Bierfest... *sigh* oh how I wish they could give me that money they spent on my behalf....
 
SoulTax said:
Some people are bad at financial planning or don't understand the issues with a 13th cheque. Like resigning in September and not getting that portion of your money that technically should be owed to you. Or the fact that the money is sat in your company's account earning them interest, instead of your own.

I detest the 13th cheque salary model, to the extent that if a company that offered me a job, operated this way and were not willing to change me to a 12 cheque pay model, I would turn down the job.
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Very good points, from that perspective a 13th cheque is a serious con, it's not "free" money in any case. It's like something parents would do for errant children to ensure they have pocket money at Xmas
 
airborne said:
Very good points, from that perspective a 13th cheque is a serious con, it's not "free" money in any case. It's like something parents would do for errant children to ensure they have pocket money at Xmas
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So true.
52 weeks in a year
4 weeks per month ( on average)

That would equate to 13 pay cheques.

But everyone gets paid at end of calendar month. So, you get 12 pay cheques. Does it mean you are "working" 4 weeks for "free"

Or maybe those 4 weeks will account for :-
annual leave
family responsibility leave
Sick leave

Or maybe my logic is flawed
 
No bonuses for the last 3 years. Lots of excuses despite the region meeting profit targets. This year exceeding profit targets.
 
I get a 13th Cheque from my employer. Was given the option as to WHEN in the year I get my bonus (this was a once off option).
I was also given the option to either get taxed on my bonus throughout the year (aka per month) or as a single amount at time of bonus payout.

I chose to get taxed in one go at the time of my bonus payout. Funny thing is the lady handling this calls me in to confirm that I knew what I had chosen as almost everyone chooses the per month tax option.

I believe a Rand I have today is worth more than a Rand I'll have tomorrow. Besides, the money I save per month NOT paying my bonus tax can gain interest for me.


Anyone else have a different point of view on this?
 
Tariq786 said:
I get a 13th Cheque from my employer. Was given the option as to WHEN in the year I get my bonus (this was a once off option).
I was also given the option to either get taxed on my bonus throughout the year (aka per month) or as a single amount at time of bonus payout.

I chose to get taxed in one go at the time of my bonus payout. Funny thing is the lady handling this calls me in to confirm that I knew what I had chosen as almost everyone chooses the per month tax option.

I believe a Rand I have today is worth more than a Rand I'll have tomorrow. Besides, the money I save per month NOT paying my bonus tax can gain interest for me.


Anyone else have a different point of view on this?
Click to expand...


I concur with your view.
 
Tariq786 said:
I get a 13th Cheque from my employer. Was given the option as to WHEN in the year I get my bonus (this was a once off option).
I was also given the option to either get taxed on my bonus throughout the year (aka per month) or as a single amount at time of bonus payout.

I chose to get taxed in one go at the time of my bonus payout. Funny thing is the lady handling this calls me in to confirm that I knew what I had chosen as almost everyone chooses the per month tax option.

I believe a Rand I have today is worth more than a Rand I'll have tomorrow. Besides, the money I save per month NOT paying my bonus tax can gain interest for me.


Anyone else have a different point of view on this?
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And yet, if you had that 13th cheque evenly distributed into your 12 yearly payments, you would have MORE Rand today. 13th cheques are always paid 12 months in arrears.
 
SoulTax said:
And yet, if you had that 13th cheque evenly distributed into your 12 yearly payments, you would have MORE Rand today. 13th cheques are always paid 12 months in arrears.
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Uhm, what are you on about?
I have no option for this. If i did I would not be posting in this thread.
 
1441568916 said:
This 13th check business is due to legacy. In times gone bye, when I was a small child, it was customary... it seems to have been retained and is now more a case of expectation rather than the rule.
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A 13th Cheque may or may not be, depending on one's remuneration structure. Some have this, some have a performance-based bonus. Others have different bonus structures.
 
I wouldn't mind not getting a bonus, but I would like to get bigger increases yearly.
 
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