Glossary

  • Remuneration

    Any form of compensation or pay in exchange for employment. The term refers to monetary rewards like hourly wage, salary and commission, but also other benefits such as annual leave, holidays, cash incentives, work insurance and a company car, to name a few.

    How an employee is rewarded for their service depends on the industry, the current job market and the nature of the work itself. Employers should think carefully about the kind of cash and non-cash incentives they can afford to offer, and how it will affect the business when tax time comes around.

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