Civil Law

Changes to BCEA Earnings Threshold and to National Minimum Wage Act from 1 March 2023

The Minister of Labour has determined that from 1 March 2023, the earnings threshold under the Basic Conditions of Employment Act, 1997 increased from R224 080.48 per annum (approximately R18 673.37 per month) to R241 110.59 per annum (approximately R20 092.55 per month).

The national minimum wage increased from R23.19 per hour to R25.42 for each ordinary hour worked.

“Earnings” is defined in the BCEA as the regular annual remuneration before deductions i.e. income tax, pension, medical aid and similar … Read the rest

Civil Law

Earnings season is here

 From CNN:

https://www.cnn.com/2022/01/14/investing/premarket-stocks-trading/index.html

Tech stocks have been plunging as Wall Street obsesses over the Federal Reserve’s next moves and how aggressively it will hike borrowing costs over the next 12 months to rein in inflation.

But attention could soon shift elsewhere as corporate earnings season arrives, delivering a distraction from the economy and the unknowns that lie ahead.
What’s happening: S&P 500 earnings are expected to have increased by 22.4% compared to the previous year during the final three months of 2021,
… Read the rest