South Africa: Proposed Employment Tax Incentive For Hiring Young Workers

The Draft Employment Tax Incentive Bill, 2013 (“DETIB”) was published by National Treasury during September 2013 and gives effect to the proposals to subsidise the cost of hiring younger workers as first announced by Government in 2010.  According to the Media Statement, this new incentive is aimed at encouraging employers to hire young and less experienced work seekers, as stated in the National Development Plan.  The DETIB represents the first phase of the incentive […]

By | October 27th, 2013 ||

Rollovers As Business Startups: A Guide To Using Retirement Funds To Start A Business

Over the past 10 years, thousands of entrepreneurs have used their existing retirement savings held by a qualified retirement plan or IRA to finance the startup or acquisition of a new business. According to industry experts in 2010, since 2005, more than 10,000 business startups had been financed using arrangements whereby individual qualified plan accounts or IRAs were rolled over into a newly established 401(k) plan sponsored by the startup business and then used […]

By | October 24th, 2013 ||

China: Going Through Difficulties With Employees Or Layoffs For Economic Reasons?

The weather in Shanghai is very unpredictable these days. Despite the start of the new spring, people still feel the chill. Based on news reports, foreign-invested companies have set off a new wave of layoffs in China, affecting sectors such as household electric appliances and daily use chemicals retail. As a result, more and more companies come to consult us about “layoffs for economic reasons”.

It is worth noting that we do not judge which […]

By | October 15th, 2013 ||