Is this the end of the 9 to 5?

Is this the end of the 9 to 5?

It seems that the writing is on the wall for the traditional nine to five job. The world is becoming increasingly agile and flexible as employees juggle multiple jobs and incomes. You might call them hustlers, moonlighters or side jobbers but one thing is certain, there are more of them in the market today than ever before.

Hands of My Retirement Benefit! Not So Quickly…

Hands of My Retirement Benefit! Not So Quickly…

Providing an employee with retirement benefits, either in the form of a pension fund or provident fund (there is a distinction between these two, but for the purposes of this article we will refer to the monies that are paid out to a member of a retirement benefit scheme, as a pension benefit), is commonplace, but not compulsory in terms of South African law.

Profmed: Contributions and Benefits for 2020

Profmed: Contributions and Benefits for 2020

Benefit limits and contributionsThe benefit limits, including dentistry, have once again increased on all benefit options. The overall weighted contribution increase is 9.7%. Please access the Benefits Comparator on the website, which will assist you and your clients to compare benefits and contributions for 2020. The attached Schedule of Benefits, About Profmed and Benefits at a Glance provide comprehensive information on all the benefits, and our Easy Reference guide provides a summary of the benefit changes for 2020. You can also click here to view the benefit highlights. Savvy optionsSince their introduction in January 2019, we have seen remarkable interest in our Savvy options, namely, ProPinnacle Savvy, ProSecure Plus Savvy, ProSecure Savvy, ProActive Plus Savvy and ProActive Savvy. The Savvy options are hospital network options and provide members with significant savings on their contributions without compromising on benefits. Members who choose to voluntarily be admitted to a non-network hospital will be liable for a R10 000 co-payment. It is important to inform your clients that when they visit a GP or specialist, that healthcare provider should consult at a network hospital in case hospitalisation is required, to avoid a co-payment at a non-network hospital. Click herefor more information on the Savvy options. ProSecure, ProSecure Plus and ProPinnacle options (Premium and Savvy) We are particularly pleased to advise that contributions will only be charged for up to three children on these options. Any additional child dependants will be covered at no cost. Please note that the Benefits Comparator does not cap the contributions to three child dependants.To ensure that we continue to meet the needs of our members we have added Attention Deficit Hyperactivity Disorder...
Expat tax is coming

Expat tax is coming

An amendment to the SA Income Tax Act becomes effective in March 2020, and has hard-hitting consequences for South Africans working outside SA. It requires that SA tax residents spending more than 183 days abroad (of which 60 days are consecutive) pay SA tax of up to 45% of their foreign employment income once it exceeds R1m per annum.

BUSINESS SOLUTIONS

BUSINESS SOLUTIONS

Questions to consider when running your own business.

Entity
Suretyship Protection/ Contingent Liability
•Are you standing surety for loan/debt affected by the business?
•Are you aware of the impact if the loan/debt cannot be repaid?

Loan Account Protection
•Do you have a loan account?
Is the business able to repay the loan account on your death or disability?

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