You can't be serious.
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Question of the Day: Will you be subscribing to the new Disney+ R49 streaming package?
bonus any one ?
- Thread starter Necuno
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You can't be serious.
BashX
Senior Member
mercurial
MyBB Legend
Why? You're happy to let government steal all your hard earned money? Fsck that.
Because companies will just 'structure' salaries to bypass tax altogether.
BashX
Senior Member
With the current government in power, that would not be such a bad idea.
mercurial
MyBB Legend
No, they don't. There might be a few out there but the majority don't do that.
Messugga
Honorary Master
Are you nuts? Of course they do. We're not even a big company and we structure salaries to minimise tax. Then you get to director level in a large corporate where guys are earning multiple times their annual incomes in bonuses. Should those be tax free?
Messugga
Honorary Master
I can get my boss to drop my salary to R100pm with a several hundred thousand per annum bonus, guaranteed, tomorrow if I want. Small companies are easier than large companies, when it comes to creative renumeration.But that's your fault for not working in a large corp.
If you provide a perfectly legal way to companies to avoid paying tax, why on earth would they not use them? This is the exact reason SARS has been clamping down on allowances and other 'structuring' tricks over the years. Really, non-taxation of bonuses is a daft idea.
Mike Hoxbig
Honorary Master
That's usually in August isn't it?Damn hope fnb has the capacity to handle my bonus:
wolverine_dcp
Expert Member
- Joined
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Nope got it now but March also
wolverine_dcp
Expert Member
- Joined
- Jul 30, 2013
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mercurial
MyBB Legend
No, are you? Just because your company does it, doesn't mean others do. Pffft.
I don't know. Ask them.
Messugga
Honorary Master
I work with 6 JSE listed companies, each doing it. Legal tax loopholes get used.
mercurial
MyBB Legend
JSE listed companies. We're not talking about the majority of companies out there. I'm sure loopholes get used but not everyone does it.
Messugga
Honorary Master
Every company I've ever worked for, does it too... You have to be stupid not to and your accountants wouldn't be doing their jobs if they didn't either.
R13...
Honorary Master
Companies don't employ tax advisors just for the fun of having them on the payroll.
AchmatK
Honorary Master
Tax avoidance (using legal loopholes in legislation) and tax evasion(completely illegal) are both frowned upon by SARS and all other tax authorities.
Be careful when structuring any financial transaction where the sole intention is to reduce tax liability as SARS can declare it a Tax Avoidance Scheme and you can face hefty penalties and possible jail time.
