Christmas bonus

Jhercules said:
What about people who's bonus is only decided at year end? I did a friends taxes who only pays correct amount PAYE as per his salary each month and he got a fat 13th cheque tax free.
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Tax man will say hello in the next fiscal year.
 
Sheez, envy some of you guys. Just have to be greatful that I have a job (for now) I guess. Next year is going to be a brutal year economically if economists are to be believed.
 
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No bonus for me. Whats more, unless this month gets better drastically I will not be getting a salary either.
 
Kosmik said:
Normally a "tax free" bonus is one where you voluntarily pay extra tax every month so that when it's bonus time you get the full amount.

There is no such thing as a proper tax free bonus, Sars always get their cut.
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Correct, she pays extra during the year.
 
pboy said:
bonus>savings
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Its virtually impossible for many middle class South Africans to save at the moment. We are being attacked from all angles. Electricity increases, the implementation of Toll Roads, NHI looming on the horizon, Investment and Life Insurance increases, Water increases, and Interest rates will be increasing again making bond repayments higher, never mind food inflation, higher school fees and non-inflationary salary increases. This is just for the basic necessities.

Its amazing that they havent started charging us for oxygen yet.
 
Surv0 said:
should definitely be getting one, going straight to paying off the engagement ring I just bought for my girl :)
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Congrats buddy! However yours is a 'retention' bonus :D Not being able to move jobs or else you would lose your bonus sucked. I had to pay mine back when I left!

J
 
Less than half a cheque and all of that going to SARS. FML.

Anyway, have to just ride it out for two or three years for the sake of my long term plans.
 
ABCpt said:
The scary / sad thing is that people get excited about this '13th cheque'. :confused:
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JungleBoy said:
I would like to know how does one get away with a tax-free bonus ?
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Jhercules said:
Yeah, how is this possible? The tax on a bonus is insane.
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When you work for guavament you get your 13th cheque in your birthday month which is 100% of your gross monthly salary. By default they deduct a 12th of the tax for your bonus every month so you can get the full amount in bonus month.

That's the only thing I miss about my guavament job.

As for me, no bonus. I basically get a "voetsek be thankful you have a job" :D
 
What to do with Bonus?

I'm just wondering what I should I should do the bonus from my company, I've been doing some calculations, I figure I'll be having something in the region between R120K & R140K depending on the exchange rate. I'm single so I don't have a lot of expenses or dependents.

Spending a week in USA made me realise that I already have the most relevant gadgets, so I can't buy anymore gadgets this year, I'd buy a home theater screen but it wouldn't make too much sense since I'll be moving next year. Only logical thing left is to invest it, though I'm not really clued up, about what to invest it in.

What are you going to do with yours?
 
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why do people seem to feel they must "do something" with their bonus? Just leave it in the bank for a while, maybe get a corporate saver plan or something.
btw, this is not specifically directed at op. Just wish more people would save.
 
Put it down for a house. On the other hand I think you troll once again :D
 
Allan Gray unit trusts. Kruger Rands. But spend about R 10k of it, it will make you feel justified by receiving the money. Investments, although essential, are very boring, like watching paint dry
 
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