The Draft Taxation Laws Amendment Bill was published on 29 July 2022. The bill’s publication marks the start of the tax legislative amendment season. The proposed legislative amendments are currently open for public comment and participation. Executives and payroll administrators should take note of a proposed change to the way in which variable remuneration will be taxed, particularly from a timing perspective. Currently, section 7B of the Income Tax Act provides for the matching of the timing between accrual and payment of various forms of variable remuneration. As a result, any amount of variable remuneration paid by an employer to an […]