Many employees are weighed down by debt, which results in stressed workers and leads to low morale and productivity in the workplace. David Brown shares his advice on what employers can do to alleviate some of the stress caused by massive debt.
With food and petrol prices on the rise, South African consumers are increasingly feeling the strain and resorting to credit and loans to buy both big ticket items and necessities, leading to escalating debt.
In one of the most significant changes to employees’ tax requirements in decades, the accrual principle is proposed to be relaxed for variable remuneration items such as commissions, travel payments, overtime and bonuses.
Bursaries and scholarships increase value for employers and employees by improving overall skills levels. The South African 2012-2013 Budget made changes to the legislation regarding the taxation of bursaries and scholarships.