Build your emergency safety net fund today
Ask any trapeze artist, and they’ll tell you that a safety net is a non-negotiable part of flying high. While few of us are circus performers, an emergency savings fund is still one of the most important requirements for our peace of mind and financial stability. Life has a way of throwing curveballs. Whether it’s […]
Anomalies in fringe benefits regarding retirement funds addressed
With effect from 1 March 2016, and in terms of paragraph 2(l) of the Seventh Schedule to the Income Tax Act, all employer contributions to a retirement fund on behalf of employees are considered taxable fringe benefits in the employees’ hands. In turn, paragraph 12D(2) of the Seventh Schedule stipulates that if the employer contributes […]