Why Life Partners Still Need Cohabitation Agreements and Wills

Some 32 million South Africans co-habit outside marriage (that’s actually from a 2016 census – the number is probably higher now). With the concept of “common law marriage” being a total fiction – albeit a persistent one – life partners need to understand the risks they run in not putting into place both valid wills …

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How the Property Practitioners Act Affects You as a Property Seller, Buyer, Landlord or Tenant from 1 February

From 1 February 2022 all property sellers, buyers, landlords and tenants acquire a series of new rights and responsibilities. Although the Property Practitioners Act (“PPA”) is a complex piece of legislation and much of it will be of more interest to estate agents and conveyancers than to you as a seller or buyer, landlord or …

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Interest Rate Hikes: How to Buffer Your Business in 2022 and Beyond

The SARB’s first interest rate hike in November 2021, following almost two years of record low interest rates, signaled a change in the interest rate cycle earlier than many experts had expected, with further increases planned in each quarter of 2022, 2023 and 2024. Rising interest rates have a significant impact on the economy, and …

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SMEs – Why You Should Consider Employee Benefit Packages 

According to the latest survey into the state of employee package offerings in Africa by locally based global human resources management firm Willis Towers Watson, “only 17 percent of employers in Africa believe that their benefit strategy is effective across all areas…”. This illustrates the general perception of employee benefits among African companies, including South …

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The Top 10 Complaints Against SARS: What You Can Do to Protect Your Rights

The Tax Ombud recently published a list of the top 10 complaints made against SARS over the last 8 years by local taxpayers. It not only makes for very interesting reading, but also provides taxpayers with warning signs regarding the biggest and most common pitfalls when dealing with the tax authority. The Ombud also launched …

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How To Get a R1.8m CGT Exclusion When Selling Your Small Business

Since 2001, taxpayers in South Africa have been liable for Capital Gains Tax (CGT) on profits (capital gains) arising from the disposal of assets – at a hefty 18% for individuals.   There is a less well-known specific exclusion to the CGT payable on the disposal of a small business or its active business assets that …

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Cloud Computing Offers Small Businesses New Age Solutions for Less

The last couple of years, and the prolonged lockdown, have highlighted the convenience of working remotely and migrating work to digital platforms. “Cloud computing” is one of the trendier buzz word phrases that have increased in popularity, but what exactly does it mean and how can it benefit your business? Simply put, cloud computing refers …

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Don’t Let Delays in the Master’s Office Leave Your Family in Financial Distress

When you die your grieving loved ones could face cash flow problems unless you proactively take steps now to ensure that they will have access to enough ready funds for them to live comfortably whilst your estate is being wound up. Critically, all your bank accounts and other assets will be frozen and inaccessible to …

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Small Businesses: Reap the Benefits of Cashless Transactions

“Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed” (Chair of the Federal Reserve of the United States, Jerome Powell) South Africa is already a cash-heavy economy as it is and this reliance on cash is …

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