Entries by Remuneration Consultants

Tax Revenue and Raising SARS’ Capacity

During the delivery of the 2019 Budget speech, the Minister – Tito Mboweni – spoke about six fundamental prescripts in this year’s budget, one of them being Increasing tax collection. In increasing tax collection, he talked about Tax revenue and raising SARS’ capacity – the following was addressed on this topic:

Budget Speech 2019: Illicit Economy Unit

The reports released in 2018 November indicates that 1 of 3 cigarettes sold in South Africa is illegal. The cost of illegal cigarette cost about R50-60 per carton while the legal cigarette sold locally in South Africa cost R250 per carton. Consumption of illegal tobacco keeps increasing and this is due to their selling price

2019 Budget Speech: Fuel Levy hike

Freedom of Movement When government struggle to meet its revenue estimates and projections fall short in three of its four main tax revenue instruments, proposals to increase the tax base are raised; and in this year’s budget speech, the Minister has looked to a fuel levy increase yet again.

Remuneration Trends for 2019

An employee’s remuneration package was once carved in stone, consisting of their pay and some standard benefits, like medical aid and pension. However, things are quite different these days, with employers hoping to offer better rewards that entice top talent to join their organisations and stay longer. Here, we share our views on what workers […]

Much more can be done to Improve Employee Remuneration

What can be done to remunerate employees better? The simple answer is plenty. Yet many employers do not get the most out of employee package structuring. This is one of those areas where there are “too many experts”, and correctly so, as this spans the professional functionality of remuneration specialists, tax advisors, auditors, financial planners […]

Employee Children Bursaries – Tax Saving Structuring

Employee Children Bursaries – Tax Saving Structuring The ability for employees and business owners to pre-tax structure their children’s school and university fees, remain one of the few available, but seldom used tax planning opportunities. This is the only tax break allowed on private expenses and have been extended in the 2017/18 Budget Speech. The […]

Increase of the Scale of Benefits

Increase of the Scale of Benefits The Unemployment Insurance Amendment Act, No. 10 of 2016 (“the Act”), is aimed at having a positive effect on the country’s labour force. Furthermore, there are likely to be positive effects on the economy as well. The Act will see those who lose their jobs receive money for a […]