Don't lose money by not knowing the new tax rules

SATIB Life & Investments would like to draw your attention to the new tax laws* which became effective 01 March 2012.

These laws will affect all employer-owned insurance policies that are provided by the employer for the benefit of their employees or their beneficiaries. These benefits, such as Disability Cover and Funeral Cover, will have to be taxed as a fringe benefit, which means it will be added onto the employee’s payslip and taxed accordingly. If not done properly the employer may be liable.

As an employer, it is important that you communicate this information to your employees and also to ensure that these benefits are taxed correctly, to reduce your company risk.

We can offer individuals a free financial assessment to determine whether they are accurately covered for Death & Disability and that you have sufficient Retirement savings in place. We are also able to review your policy documents and fund rules and assist with communication to your staff.

For more information, please contact Brett Lazarus at SATIB Insurance Brokers:

T 0861 SATIB 4U (72842 48) | C +27 (0)82 445 6666 | E blazarus@satib.co.za.

Source: SATIB Insurance Brokers