The lowdown on that (sometimes elusive) 13th cheque

Cathie Webb of SA Payroll Association talks to CapeTalk's Kieno Kammies about things to be cognisant of when it comes to that 13th cheque at the end of the year.

Webb says the first rule of thumb is don't spend it until you are certain it's in your bank account.

People don't fully understand weather their company gives a bonus or a 13th cheque and the two terms are often used (interchangeably).

Cathie Webb, director SA Payroll Association

A bonus, however, is something you are given if your company has performed well, and is calculated according to certain criteria.

A 13th cheque might not mean that you get double the money in your bank account on the 15 December.

Cathie Webb, director SA Payroll Association

These amounts are taxed and the more you earn the more tax you pay.

Webb explains how the 13th cheque can push you into a higher tax bracket and you will then pay more tax.

Listen to Cathie Webb explain the ins and outs of bonuses and 13th cheques below:


This article first appeared on 702 : The lowdown on that (sometimes elusive) 13th cheque


Recommended

by NEWSROOM AI
Read More
What leads companies down the path of corruption...and how to avoid it

What leads companies down the path of corruption...and how to avoid it

Values-based leadership lecturer Dr Tim London looks at the ethics and dangers businesses face in the world of profiteering.

Let your nose decide if docci claims into perfume industry are true

Let your nose decide if docci claims into perfume industry are true

Claims have been made that the perfume industry don't want consumers to know the real cost of making these products.

Start posting your Christmas gifts now, says post office

Start posting your Christmas gifts now, says post office

South Africans are urged to post parcels for the festive season to foreign destination now to avoid delays.

Rail Enforcement Unit to be rolled out this week in the WC

Rail Enforcement Unit to be rolled out this week in the WC

The unit is aimed at curbing crime on trains as well as the destruction of railway infrastructure.

Ramaphosa sets the ball rolling for the appointment of new NDPP

Ramaphosa sets the ball rolling for the appointment of new NDPP

Several legal entities and independent public institutions have been asked to help select possible candidates for the position.

ANC Limpopo to probe municipalities processes in depositing to VBS

ANC Limpopo to probe municipalities processes in depositing to VBS

ANC's Phuti Seloba says the probe's findings will determine what actions be taken against the officials implicated in the matter.

Popular articles
I've finally decided to start my 1st solo project - Zolani Mahola, Freshlyground

I've finally decided to start my 1st solo project - Zolani Mahola, Freshlyground

On the #WeekendBreakfast with Africa Melane, Zolani Mahola of Freshlyground tells us all about her first solo project.

Tito Mboweni, Pik Botha, VBS and Floyd Shivambu - no holds barred on The Debrief

Tito Mboweni, Pik Botha, VBS and Floyd Shivambu - no holds barred on The Debrief

Politician Lindiwe Mazibuko, economist Refilwe Moloto, and journalist Rose Rogers have discussed the biggest topics this week.

'Everyone told me I can't be bi' - experiences of black bisexual men in SA

'Everyone told me I can't be bi' - experiences of black bisexual men in SA

Activist Mpho Ndaba, software developer Kabelo Thwala and photographer Youri Sunguza reflect on living life as bisexual black men.

Snakes season is here and if the crawlies visit you, here's what to do

Snakes season is here and if the crawlies visit you, here's what to do

Snake handler Willem van Zyk of Blouberg Snake Rescue says he's already being kept busy with callouts.

'VBS stolen money bought the most useless things like Ferraris and helicopters'

'VBS stolen money bought the most useless things like Ferraris and helicopters'

Deputy editor at Finacial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested in the VBS saga.

Cape Town tenants could see property prices ease up, says RE/MAX

Cape Town tenants could see property prices ease up, says RE/MAX

The Cape Town rental market is said to be experiencing a major correction phase after an unjustified period of escalated prices.

I resigned from Sunday Times because I couldn't breathe - Pearlie Joubert

I resigned from Sunday Times because I couldn't breathe - Pearlie Joubert

Joubert resigned from the Sunday Times in January 2015 because she was unwilling to be party to "unethical and immoral" practices.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.