bonus any one ?

Bonus equal to 13th cheque. Got pushed into a new tax bracket so they minused 5/6k but still happy :) Some will go to house deposit and some towards a trip to Thailand :)
 
^^vampire^^ said:
Bonus equal to 13th cheque. Got pushed into a new tax bracket so they minused 5/6k but still happy :) Some will go to house deposit and some towards a trip to Thailand :)
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Ouch. SA tax brackets are set up so that more money being taxed >>> more cash in hand. i.e. No benefit in artificially just missing a bracket.
 
grantza said:
i have 2 companies
i give my staff a "13th cheque", but it is not part of their renumeration package in terms of employment contract.
the "13th cheque" is paid by company "a" to employees of company "b", & vice versa

the amount is rounded up so it does not equate to the exact amount as per regular salary eft payments & is paid in 2 halves - 1st week of dec & 3rd week of december.
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What's the advantage of this? Tax benefit?
 
blaaislaai said:
Got a 13th, exactly double my monthly salary. Better than nothing, i guess.
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13th as in they kept a portion of your money every month and gave it back to you at the end of the year?

I hate it when they call that a "bonus".
 
HavocXphere said:
Ouch. SA tax brackets are set up so that more money being taxed >>> more cash in hand. i.e. No benefit in artificially just missing a bracket.
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Yeah I understand that which always has me confuzzled when bonuses get paid as SARS states that a bonus is just added as normal income yet your bonus always winds up being taxed more somehow.
 
^^vampire^^ said:
Yeah I understand that which always has me confuzzled when bonuses get paid as SARS states that a bonus is just added as normal income yet your bonus always winds up being taxed more somehow.
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Likely an effect of monthly PAYE tables being used. It just appears that way though...if I'm right about the tables then it should create a SARS refund at the end. Either way it sounds like a dodgy line coming from HR...either they're clueless or its a cheap excuse to save the company 5-6k.
 
You need to look up how progressive taxation works. Preferably without your tinfoil hat on.
Of course it gets taxed more than your normal salary. It's money on top of your normal earnings, taxed at your top tax rate. The tax tables don't get adjusted to compensate for your bonus.
 
Sinbad said:
You need to look up how progressive taxation works. Preferably without your tinfoil hat on.
Of course it gets taxed more than your normal salary. It's money on top of your normal earnings, taxed at your top tax rate. The tax tables don't get adjusted to compensate for your bonus.
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:erm: Pretty sure you missed the train here...
 
25% of my monthly salary and its was prorated as I only been working for 10 months with them. Will only get 100% of my salary after 3yrs.
 
So I got 7 months prorated of 100% monthly. I'm very hastily with that outcome as no company I worked for paid a full 13th cheque. They all manage to diddle you somehow.
 
The word bonus is very Interesting in itself. It was derived in the 12th century at a time when 100% of the workforce was male. The boss would often get frustrated and would need some sort of relief .....and the person who would provide it to him would receive some sort of financial compensation for helping the boss out.

You see bonus is a shortened version of the term 'bone in anus', and was shortened in the 16th century and while people often think it refers the financial compensation, in reality it is the relief that is actually being referred to. The money was just the accompaniment for that relief.

My boss did not give me a bonus this year, or any year...and am proud to say it!!!

/by the way I just made this up because I am feeling sore about being screwed by my company every day,and they don't even bother to reward me at the end of it

/I lie
 
imranpanji said:
The word bonus is very Interesting in itself. It was derived in the 12th century at a time when 100% of the workforce was male. The boss would often get frustrated and would need some sort of relief .....and the person who would provide it to him would receive some sort of financial compensation for helping the boss out.

You see bonus is a shortened version of the term 'bone in anus', and was shortened in the 16th century and while people often think it refers the financial compensation, in reality it is the relief that is actually being referred to. The money was just the accompaniment for that relief.

My boss did not give me a bonus this year, or any year...and am proud to say it!!!

/by the way I just made this up because I am feeling sore about being screwed by my company every day,and they don't even bother to reward me at the end of it

/I lie
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Aah. So if you were a sole prop self employed you will get a HANDout rather than a BONus
 
It's that time of the year again, we generally get a 13th cheque and sometimes a % of salary based on company performance etc

Do you have any expectations and what do you intend doing with this additional cash?
 
Don't get one. Too junior. :/

Had 50k worth of overtime paid out though so thats a nice consolation prize.
 
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