Taxing Christmas bonuses

16068347_s cropQuestion

Santa usually pays his elves a bonus at Christmas time. Are bonuses included in the calculation of an employee’s annual holiday pay?


This depends. Two rates are used to work out an employee’s annual holiday pay: “ordinary weekly pay” and “average weekly earnings”. Once each is calculated, the higher of the two is used as the rate of payment for annual holiday pay.

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Rob Fyfe on money

rob-fyfeIf you missed Fairfax’s interview with Rob Fyfe it’s well worth a quick read:

  • How financially savvy are you?

Not at all. I can look at numbers and understand them easily, but personally I have never invested a lot of time into my investment options. Hopefully saying this doesn’t result in a flurry of financial advisors knocking on my door.