“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 »
For the past few years, economic data has been negative. It pays to remember that the economy goes in cycles and there will be a return to economic growth. Remember we recorded 3.3% economic growth in quarter two and the current account deficit shrank significantly. In the fast-moving world we now live in, those businesses
Are You Ready for the Upturn? 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 »
Our two worst nightmares are owing SARS money and being pursued by debt collectors. These nightmares are fusing into one as SARS have contracted debt collectors to recover amounts due to SARS that are older than four years. Why would SARS use debt collectors? Some commentators have expressed surprise that SARS would take such a
A nightmare on SARS street: They’re using debt collectors to recover tax 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 »
Since the “new” 2008 Companies Act came into effect in 2011, directors and other company officers have had to shoulder a raft of additional responsibilities and risks, amongst them a significantly increased risk of personal liability. Consider for example the little-known section 218(2) which waits in ambush for the unwary in the “Miscellaneous Matters” section
Directors and personal liability Read More »
“Privacy, like other rights, is not absolute. As a person moves into communal relations and activities such as business and social interaction, the scope of personal space shrinks” (Extract from judgment below) All companies – big and small, public and private – must keep registers of their shareholders and directors. And, as the SCA (Supreme
Companies: How private are shareholders’ details? Read More »
One of the stories that underpins the current wave of pessimism around our economy is farming. We read stories about: Farmers being murdered and driven off their land. The government plans to ban all foreign ownership of land. New ways are being sought to make it easier (and cheaper) for the expropriation of agrarian land.
A good news story: Farming is doing better than we think 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 –
Company directors: Beware of the risks with resolutions Read More »
A novel and effective way of raising finance It is well known that finance is extremely hard to raise for small and medium sizes entities (SMEs). Banks are very conservative and prefer to deal with the larger, more established businesses. The venture capital market is small in South Africa and many SMEs fail due to
Startups and small businesses: Consider crowdfunding Read More »
