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Introduction to Withholding Tax in the Netherlands The Netherlands, known for its robust tax system, imposes a withholding tax on dividends, which is a significant aspect of its corporate taxation. This tax is applied to the profits distributed by companies based in the country. Current Dividend Withholding Tax Rate As of 2023, the standard …
Bradley Seaton-Smith, NSRI Marketing Manager, said: With the summer season in full swing and warmer days beckoning beachgoers to the coast, it’s important not to let our guard down to ensure we keep ourselves and our families safe. “If you are visiting the coast, one of the simplest things you can do to stay safe …
eXp Realty, “the most agent-centric real estate brokerage on the planet™” and a core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), proudly announces the continued expansion of its luxury real estate program, eXp Luxury, into the dynamic international markets of Australia, New Zealand, South Africa and the United Kingdom. Andrew Thompson, Director and Country …
Commission recommends a CPI plus 3% adjustment in National Minimum Wage
The National Minimum Wage (NMW) Commission has issued another invitation to interested parties to submit written representations concerning possible adjustments to South Africa’s national minimum wage in 2024.
The Department of Employment and Labour said the commission had three proposals on its table after it issued an invitation to interested parties to submit written representations concerning next year’s wage increase.
“The NMW Commission has published a report in the government gazette with the intention to present the commission’s report and recommendations on the annual review of the national minimum wage and also invite written representations from the public,” the department said.
A minimum wage is the lowest remuneration employers can legally pay their employees for each ordinary hour worked. It is illegal for an employer to pay employees less than this minimum floor.
The three proposals tabled in the report are as follows:
• The recommendation by the majority is Consumer Price Index (CPI) plus 3%. Eight of the 12 commissioners propose that the national minimum wage increases by CPI plus 3%.
• The recommendation by the Business Constituency is CPI.
• The recommendation by an independent expert is CPI plus 0.75%.
“The CPI is a measure of the change in prices as paid by consumers for goods and services over time. In South Africa, the latest consumer price inflation as published by Statistics South Africa was 5.9% in October 2023, up from 5.4% in September 2023,” the department said.
The commission’s latest invitation for inputs follows similar calls in August and September in accordance with section 6(2) of the National Minimum Wage Act, No. 9 of 2018.
The commission comprises representatives from organised labour, business, community and experts in the field of labour market and conditions of employment.
In 2021, the commission recommended increasing the national minimum wage from R20.76 to R21.69 per hour. The 2022 national minimum wage was revised from R21.69 to R23.19 per hour. In 2023 the minimum wage was revised to R25.42 per hour.
Factors considered by the commission in the annual adjustment include inflation, the cost of living, and the need to retain the value of the minimum wage; wage levels and collective bargaining outcomes; gross domestic product; the ability of employers to carry on their businesses successfully; the operation of small, medium or micro-enterprises and new enterprises; and impact on employment or the creation of employment.
Employment and Labour Minister Thulas Nxesi will announce in February 2024 the new rate of adjustment, which will come into operation from 1 March 2024.
The public has until 8 January 2024 to make their written representations.
Requests for inputs should be sent to the directorate: Employment Standards, Department of Employment and Labour, Private Bag X117, Pretoria, 0001 or be sent to nmwreview@labour.gov.za. - SAnews.gov.za
DikelediM
Fri, 12/08/2023 - 13:31
As South Africa engages in the last week of the global 16 Days of Activism against Gender-Based Violence campaign, a R1.6 billion budget allocation has done little to stem the tide of violent crimes against women and children. Commitments at presidential summits on gender-based violence and femicide (GBVF) in 2018 and 2022, including the budget …
First families moved off Central Line railway tracks
Introduction Investing in international stocks can be an excellent way to diversify your portfolio. However, one important aspect that investors need to understand is the foreign dividend withholding tax. This tax is levied by the country where the dividend-paying company is based and can significantly affect the net income you receive from your investments. …
Transnet increases tug availability at Durban port
The Port of Durban has made significant strides in the improvement of its marine craft status by increasing tug availability to an average of six tugs as of December 2023.
The increased tug availability is set to complement the 24-hour helicopter service, ensure a quicker turnaround of vessels at the port and allow terminal operators to implement the Container Recovery Plan at the port, with agility. The Plan was put in place to clear backlogs and improve the turnaround time of vessels calling the container terminals.
The port has seen severe delays recently due to various factors, including adverse weather conditions and equipment availability and maintenance.
“Having all six tugs operating is a big step in the right direction for the port and our investment in the marine fleet exhibits our commitment to continuous improvement and ensuring the port remains a gateway for trade.
“We are optimistic about the positive impact these tugs will have on the current container recovery plan and our general service offering to our customers,” Transnet National Ports Authority, Port Manager at the Port of Durban, Mpumi Dweba-Kwetana said on Friday.
The six operational tugs namely: Umkhomazi, Mkhuze, Lotheni, Palmiet, Pholela and uMhlali, are playing a vital role in adding the required tug capacity and availability in the improvement of operational efficiencies in the port.
“This milestone comes after the introduction of the Transnet National Ports Authority (TNPA) wide fleet renewal programme, which seeks to ensure that marine crafts are maintained and serviced periodically to mitigate against breakdowns and provide a buffer should there be a need.
“The provision of tugs falls within the ambit of TNPA as stipulated in Section 11 (n) of the National Ports Act of 2005, which states that the authority should provide or arrange for tugs, pilot boats and other facilities and services for the navigation and berthing of vessels in the ports.
"Most of the repair and maintenance of the Port of Durban marine fleet has been carried out by TNPA’s internal heavy engineering workshop, Workshop 24, which is based in the Bayhead Precinct in the port," Transnet said.
TNPA also anticipates the delivery of three second-hand tugs to the Port of Durban in the first quarter of 2024.
TNPA is responsible for the safe, effective and efficient economic functioning of the national port system, which it manages in a landlord capacity.
It provides port infrastructure and marine services at the eight commercial seaports in South Africa – Richards Bay, Durban, Saldanha, Cape Town, Port Elizabeth, East London, Mossel Bay and Ngqura.
It operates within a legislative and regulatory environment and is governed by the National Ports Act (Act No. 12 of 2005). – SAnews.gov.za
nosihle
Fri, 12/08/2023 - 13:01
Six of the brightest young creative talents living and working in South Africa today have been announced as the 2023 Standard Bank Young Artists. These are the artists who will get hearts and minds racing with their ideas and performances at the 2024 National Arts Festival programme (20-30 June), in the 50th year of the …
Dear Editor The DA notes the Department of Health’s statement that 9 395 of the 10 386 applicants were placed in the Internship and Community Service Programme (ICSP). We are however very worried about the 991 unplaced applicants. The DA will write to the Minister of Health, Dr Joe Phaahla, in order to gain urgent …
Cape Town, South Africa: Local football hopefuls will have the chance to bag a professional contract in the United Arab Emirates with TFA Dubai announcing their return to South Africa for the EPC Tours Football Trials. Building on the success of their first event in Johannesburg earlier this year, where three participants made it to …
Dear Editor Over 300 000 students stand to be financially excluded thanks to tertiary education funding being cut by approximately R13.7 billion. DASO unequivocally condemns and rejects this. DASO notes that these budget cuts are happening across various departments but also notes how spending on frivolous line items such as VIP security has not decreased. …
Stellantis and Ample have signed a binding agreement to establish a partnership in electric vehicle (EV) battery charging technology capable of delivering a fully charged electric vehicle battery in less than five minutes. The two partners have agreed to work toward integrating Ample’s Modular Battery Swapping solution in Stellantis electric vehicles. Battery swapping technology allows …
Dear Editor The Democratic Alliance (DA) appointed an independent task force of experienced homicide detectives to work with the South African Police Service (SAPS) and the National Prosecuting Authority (NPA) to bring the murderers of Councillor Nhlalayenza Ndlovu, the DA’s Chief Whip in Umgeni, to swift justice. The independent investigative task force combines the expertise …
JOHANNESBURG: Cricket South Africa (CSA) has today named the 15-player squad that will represent South Africa at the ICC U19...
The Currie Cup has been given a new window and a new format in a makeover that will allow all 14 unions to play for the coveted gold trophy from 2025 onwards as well as more provincial rugby action to be broadcast by SuperSport, having received unanimous approval from SA Rugby’s members at Friday’s General …
Dear Editor The DA expresses deep concern regarding the recent announcement of Botswana’s extension of import restrictions on fresh produce from South Africa. We have taken note of Minister Thoko Didiza’s efforts to engage in discussions through the South African Ambassador to Botswana to address this issue. While we welcome this initiative, it is disconcerting …
With 670 exhibitors from 18 countries receiving a total of 5 631 trade visitors from 38 countries over three days, Automechanika Johannesburg and Futuroad 2023 Shows reaffirmed their positions as the largest and leading business events serving the automotive aftermarket and the transport and logistics sectors in Sub-Saharan Africa. The events have proven once again …
Five days out – too close to call for line honours – hours separate Translated 9 IT (09) and Pen Duick VI FR (14) under 1,000 miles to go. Different routes, different tactics, same finish line. Who will triumph? If there was ever an appropriate time to roll out the clichés ‘nail-biting finish’, ‘too close …
It gives me great pleasure to put pen to paper once more to the coach development newsletter! The 2023/2024 summer...
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Ellis Jenkins (Red Card): The Disciplinary process related to Ellis Jenkins’ Red Card in the Vodacom United Rugby Championship Round 7 game against Scarlets on Saturday, December 2 has resulted in a three game suspension. After an act of foul play by Cardiff Rugby player No 7 (Ellis Jenkins), referee Ben Whitehouse showed the Player …
New laws to make rugby safer at school and club level were approved by the members of the South African Rugby Union at a general council meeting on Friday. The updated Laws relate to lowering of the maximum legal height at which a tackle may be made while also outlawing potentially dangerous ball-carrying actions and …
Government welcomes adoption of Post Office business rescue plan
The Department of Communications and Digital Technologies has welcomed the decision by the South African Post Office (SAPO) creditors to adopt the draft Business Rescue Plan.
“The timeous adoption of this Business Rescue Plan sets us on course in turning the tide in saving the South African Post Office in the interest of our developmental agenda as a country,” Minister of Communications and Digital Technologies Mondli Gungubele said on Thursday.
The draft Plan was published for comment on 23 November 2023.
“The post office remains an important institution in our postal services network nationally and in the Southern African Development Community (SADC) Region. Most importantly, we remain committed to ensuring that we build a post office of tomorrow which provides quality, affordable and accessible services to the people of South Africa, particularly in this digital era,” Gungubele said.
Business Rescue Practitioners, Anoosh Rooplal and Juanito Damons, appointed after SAPO was placed under Business Rescue in July 2023, were tasked with the responsibility of developing and submitting a Business Rescue Plan by 30 November 2023.
In July, then acting Minister of Communications and Digital Technologies, Enoch Godongwana, welcomed the Gauteng Division of the High Court of South Africa’s decision to place the SAPO under supervision and in business rescue which would commence with immediate effect.
According to the Ministry of Communications and Digital Technologies at the time, the decision of the court in support of the application brought by Minister Mondli Gungubele confirmed that indeed SAPO is a strategic government asset that provides vital services throughout the country. This is especially in remote areas where SAPO is often the main link between residents and the outside world.
It added that it further uses its countrywide footprint to render services such as the distribution of social grants at its branches and the distribution of medication to those in need. It also renders various national and international postal services.
Full details on the Business Rescue Plan can be accessed on: https://www.postoffice.co.za/BusinessRescue/index.html
–SAnews.gov.za
nosihle
Fri, 12/08/2023 - 10:17