A new court ruling says you may not need to provide payslips or bank statements anymore

In November 2016, a number of retailers were taking the National Credit Regulator (NCR) and the Minister of Trade and Industry (DTI) to court with the aim of having parts of the affordability assessment criteria [...]

South Africa’s new VAT rate…v(wh)at you need to know regarding the sale of immovable property

During the budget speech of 2018, South Africa’s then Minister of Finance, Malusi Gigaba, made a nationwide announcement of the national increase on value added tax (“VAT”) rate from 14% to 15%. This is the [...]

Asset Purchase or Share Purchase – that is the question.

When a buyer is considering purchasing a business (“Target”), invariably prior to an extensive due diligence, the buyer often reaches the following crossroads: do they purchase the business in its entirety (“Share Purchase”), do they [...]

New impacts on the Net Income of Controlled Foreign Companies

The minister of Finance raised a concern that the current Controlled Foreign Company (“CFC”) rules do not include foreign companies held by interposed trusts or foundations. South Africa force taxes on worldwide income of South [...]

The extension of preferential rights – the collateral consideration

Recent development in our law highlighted the implication of the verbal extension of preferential rights embodied in a written agreement. This article briefly discusses the legal principles surrounding pre-emptive rights, the new legal developments in [...]

SARS is deducting my income tax

SECTION 12J OF THE INCOME TAX ACT NO. 58 OF 1962: SARS IS NOW PREPARED TO DEDUCT ALL YOUR TAXABLE INCOME: PART ONE One of the significant hurdles facing South Africa’s burgeoning small and medium-sized [...]

Liquidated damages: The compensation lifeboat

Liquidated damages are those pre-agreed damages that are included in an agreement and serve as a safeguard in the form of compensation at the disposal of an aggrieved party where the other party fails to [...]

Welcome back!

Dear Valued Clients, Welcome back! We wish you prosperous and successful 2018. 2017 was an exciting year for us. We have relocated our Centurion office to larger premises, increased our professional and support team, secured [...]

Provisions Concerning Non-Profit Companies

In terms of the Companies Act 71 of 2008 (“Companies Act”) a non-profit company must have a memorandum of incorporation which sets out at least one object of the company. Each such objective must furthermore [...]

Board Committees

Except to the extent that a memorandum of incorporation (“MOI”) of a company provides otherwise, the Companies Act No. 71 of 2008 (“Companies Act”) allows for the board of directors of a company to appoint [...]