Failure by “designated” employers to lodge their employment equity reports on time risks severe penalties, with first offenders risking a fine of the greater of R1,5m or 2% of turnover (increasing to the greater of R2,7m or 10% of turnover for serial offenders). Lack of enforcement in the past (apart from a few high-profile exceptions) […]
Don’t Miss Your Deadline for Employment Equity Reports Read More »
Donald Trump will soon be the 45th President of the United States. So far he is still threatening to implement his populist campaign promises (e.g. partially repeal Obamacare, tear up trade agreements and deport 11 million illegal immigrants) and has appointed a hard-line conservative to a senior position in the White House. The American economy
Beware of Trump’s Victory – Hard Economic Times Loom for SA Read More »
“Parting is such sweet sorrow” (Shakespeare) One of the predicted negatives from the Companies Act (the Act) and the King Codes was it would be difficult to find directors. The Act and King Codes put extensive liabilities on directors, encouraged annual appraisal of directors, term limits for directors and recommended strong codes of conduct to
Directors Don’t Like Goodbyes Read More »
Note: What follows is of necessity only a brief overview of some very complex new provisions and, particularly if you are a trustee or administrator, it is essential that you familiarise yourself with all the changes. Contact us if you need any help. The Sectional Titles Schemes Management Act (“STSM”) applies only to sectional title
Sectional title schemes Read More »
Each month Statistics SA releases the inflation figure (CPI). Currently it is 5.9% which is a considerable improvement on February’s 7%. What is interesting is the CPI figure is a composite of five quintiles of income groups – from the poor to the affluent. What do the quintiles show? They show that for the wealthy
Inflation’s Different Effects : The Danger for South Africa Read More »
There is a feeling that taxpayers are getting fed up over the amount of tax they have to pay. Add to this the adverse publicity SARS has received as one of the focal points of the current political struggles and the string of suspensions/dismissals of senior SARS officials. Despite this, statistics for the months April
Are you struggling to get your tax refund? Read More »
“We have to show that we will stick to our undertakings on consolidation, but on the other hand we have got to be very mindful that fiscal consolidation in the absence of growth does damage growth further.” (Finance Minister Pravin Gordhan in his Medium Term Budget Statement) Firstly, what is the Medium Term Budget Statement
Are We Headed for Junk Status or Only Tax Increases? Read More »
For several years there has been considerable pressure put on government to institute a national minimum wage. The Deputy President has been heading a panel on this topic and in principle government, business and the trade unions have agreed to institute a minimum national wage – but there are many issues to still iron out.
Will the mooted minimum wage be good for the economy and for you? Read More »
“Aye, there’s the rub” (Hamlet) If you are a credit provider and required to register as such in terms of the NCA (National Credit Act), not doing so can have drastic consequences for you. For a start, a court can make any “just and equitable order” in relation to your credit/loan agreements, including an order
The updated credit provider registration threshold – Are you still exempt? Read More »
“There’s many a slip ‘twixt the cup and the lip” (very old and very wise proverb) You sell your property for a good price and, with the deal in the bag, you start daydreaming about how to spend the proceeds. Then – disaster of disasters – you realise that in the excitement of the sale
Selling Property? Check for VAT Before You Sign Read More »
