“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 you ask […]
Signing Surety – The Sting’s in the Tail Read More »
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 »
“A fox knows many things, but a hedgehog one important thing” (Ancient Greek poet Archilochus) Looking into the future is one of the most important aspects of business. We all want to know the business is sustainable and so we do budgets and strategic plans to maximise the organisation’s future performance. Just how accurate are we when forecasting? This is
In 2017 there’s No Place for Hedgehogs When Forecasting Read More »
“When you’re chewing on life’s gristle, Don’t grumble, give a whistle! And this’ll help things turn out for the best And always look on the bright side of life!” Lately, all we seem to get is depressing news – potential ratings downgrade, declining employment, corruption scandals and escalating protests. Despite this good things continue to
There’s Plenty of Good News Out There Read More »
This year’s new minimum wages for all domestic workers are set out in the table at the end of this article. Who is covered? All domestic workers in South Africa working in a private household People employed by employment services Independent contractors who are doing domestic work A person doing gardening in a private home
Minimum Wages for Domestic Workers Increased Read More »
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 »
“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 »
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 »
Note: As with the previous article, what follows is of necessity only a brief overview of some very complex new provisions and, particularly if you are a trustee/administrator/director or the like, it is essential that you familiarise yourself with all the changes. Contact us if you need any help. The Community Schemes Ombud Service Act
All “Community Schemes” 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 »
