Do your employees understand their annual bonus?
The difference between a thirteenth cheque and a performance bonus is clear but many employees aren’t aware that there’s a difference. A thirteenth cheque is an additional monthly salary or 8.33% of the employee’s annual salary that’s usually paid in December. A performance bonus is based on an employee’s performance and is subject to the […]
Balancing your business’s losses and taxes
In line with the 2021 Budget Announcement, Government proposes to broaden the corporate income tax base by restricting the offset of the balance of assessed losses carried forward to 80% of taxable income. The proposal extends to the balance of assessed losses at the time of implementation, i.e. it is not only the accumulation of losses starting […]