Durban - December has come and so has Christmas and your 13th cheque.
This bonus is extra money given by employers to their employees during the festive season.
Depending on the company or employer, it can be just a little extra amount added to your salary or it can be a nice fat bonus serving as a reward for good service.
Don’t be shocked when the taxman swipes a lovely chunk of your bonus as well. But how?
Well, not only can he take more than 40% of your bonus when it’s added to your salary, but when you go shopping with the remainder, you will hand over a further 14% in VAT.
Irrespective of the amount, while you may be tempted to splurge, there are better things to do with your bonus, including: