Business Rescue (BR) is one of the cornerstones of the “new” Companies Act. It is generally agreed that the BR section of the Act is based on global best practice and is of a very high standard. Virtually all business owners will go through difficult times at some stage in their career – knowing how […]
Business rescue – How well is it doing? Read More »
“Let me tell you how it will be There’s one for you, nineteen for me ‘Cos I’m the taxman, yeah, I’m the taxman” (The Beatles – ‘Taxman’) For many years government has been hostile to trusts. In the latest draft Bill of 2016 taxation amendments, a provision has been inserted on trusts. Be aware that
Be prepared as government takes aim at trusts Read More »
SARS has appointed 3 debt collection agencies (currently named as CSS Credit Solutions, NDS Credit Management and Lekgotla Trifecta Capital Consortium) to chase up outstanding taxes. But with reports of scamsters contacting taxpayers, pretending to be SARS officials or official debt collectors, and demanding immediate payment, SARS advises that – Direct queries to the SARS
Here’s what to do if a “SARS” debt collector comes knocking Read More »
“Where there’s a will, I want to be in it” (Anon) Whether you are young or old, healthy or ill, single or attached, you should have a Will. Without one, you die “intestate”, which means you forfeit your right to decide who inherits what, who administers and distributes your estate, and who looks after your
Your will and a practical plan for your loved ones Read More »
Recently, Great Britain voted in a referendum to leave the European Union (EU). This sent shock waves throughout the world. Where does Brexit leave South Africa which has strong ties to both Britain and the EU? The EU is by far our largest trading partner whilst Britain alone accounts for 4% of our exports and
BREXIT: What does it mean to you? Read More »
“The devil’s in the detail” (wise old idiom) The “new” Companies Act (the Act) has some requirements which can easily be overlooked. They may seem to be minor and technical, but not complying with them could expose you to major risks. In our increasingly litigious society, it is important to be thorough. For example –
Beware of the risks with resolutions Read More »
We live in the age of leaks. The latest is the “Panama Papers” which details how wealthy people and companies have used off-shore accounts to protect and hide their assets from their country’s authorities. 1,700 South African names appear in the leaked Panama Papers. In a parliamentary briefing, a SARS official said that 79 Panama
The axe begins to fall for those named in the Panama Papers Read More »
“Don’t miss the wave” (Old saying – not limited to surfers!) Bitcoin is a digital currency which has grown rapidly since its introduction in 2009. Recently the UK issued an e-money licence to a finance house and Barclays Bank has become part of this process. What is Bitcoin? It is a digital currency whereby you
Bitcoin: Learn about it now, it is here to stay Read More »
“Alone we can do so little; together we can do so much” (Helen Keller) In our last article in the series “Choosing the right legal entity for your business” we looked at the sole proprietorship option. Let’s move on to the partnership option, where a group of business owners replaces the sole owner/trader. Firstly, what exactly
Starting a business? The partnership option Read More »
SARS has published the new Tax Season deadlines for individuals. Your important dates for filing your ITR12 Tax Return Form for the period 1 March 2015 to 29 February 2016 are – 23 September 2016: Manual/postal submissions, or 25 November 2016: Non-provisional taxpayer returns submitted via eFiling or at a SARS branch, or 31 January 2017:Provisional taxpayers
Tax Season starts 1 July: Your deadlines Read More »
