The Companies Act gives directors substantial leeway to run a company and gives them considerable powers to do this. So how does it protect minority shareholders who disagree with how the directors operate the business? What remedies are available to you? A shareholder may seek court relief when there is “an unconscionable abuse” of the […]
Aggrieved Minority Shareholders: You Have Plenty of Options Read More »
Two months ago we wrote about how the Tax Ombud was now more independent of SARS and it hasn’t taken the Ombud long to flex these powers. Over half of complaints received by the Ombud relate to the long time taken to get refunds to taxpayers. This relates to both Income Tax and VAT. The
Are You Battling to Get a Tax Refund? Tax Ombud To Investigate SARS Systems Read More »
The Compensation for Occupational Injuries and Diseases Act (COIDA) is a statutory insurance policy for your employees and pays them compensation if they are killed, injured, disabled or contract an occupational disease or illness whilst at work. Employers are required to submit an annual return which is due on 31 May this year. The return
It’s COIDA Time Again! Read More »
For ease of reference please refer to these links: Notes to the new tax tables The new tax tables for individuals and trusts other than special trusts The new tax tables for Small Business Corporations The new transfer duty rates
You and Budget 2017 Part 2: The New Tables Read More »
This budget is one of the most anticipated for many years with many questions still needing answers: How will the expected tax increases pan out? Will the Minister of Finance and his deputy keep their jobs? Will the budget incorporate “radical economic transformation” which has become the President’s mantra in the past few months? How
You and Budget 2017: Tax Increases Are Now the Order of the Day Read More »
The Office of the Tax Ombud (“OTO”) was created in 2013 and despite initial doubts as to its role has carved a niche for itself and gained credibility as a result. Recent legislation has strengthened the OTO. The Ombud was designed as a free service to taxpayers to assist them when there is poor service
TAX OMBUD NOW HAS MORE POWERS Read More »
2016 was our annus horribilis with drought, political uncertainty, low commodity prices, rising inflation and a weak currency. From such a low base, economists are arguing things should get better. What will drive the economy in 2017? Balance of Payments Our economy has been running a substantial trading deficit which puts pressure on the Rand
WILL 2017 BE BETTER THAN EXPECTED? Read More »
This summary was compiled by Pieter Steenkamp, Tax and Estate Specialist. Herewith a short summary of some of the tax proposals announced by the Minister of Finance, Pravin Gordhan in his budget on 22 February 2017. As far as income tax is concerned, these proposals are applicable to the 2018 tax year, i.e. year ending
Recent legislation has been passed which obliges trustees of sectional title schemes to set up a reserve for repairs, maintenance and asset replacement of the common property. This is in addition to the current administration requirement to cover future operating expenses. If you are involved with bodies corporate you need to pause and consider this
Sectional Title Owners Beware: Your Body Corporate Must Have Adequate Reserves Read More »
“She just did not want to be liable if he defaulted, a common regret felt by those who stand surety for defaulting debtors” . In the beginning ….. You are totally relaxed. The bank won’t give your son/daughter/spouse/partner/company/friend a loan unless you sign surety and, as always, it seems perfectly safe at the time. So
Signing Surety – The Sting’s in the Tail Read More »
