Firstly, a warning to anyone selling or buying property to/from a trust – have your lawyer check upfront that you are adequately protected by the terms of the sale agreement. The problem is that contracting with trusts has its own specific set of rules and, as a recent High Court case illustrates, standard sale agreements
Trustees: Your Risk of Personal Liability in Property Sales Read More »
“Honesty is the best policy” (Benjamin Franklin) Employees have a general duty to act loyally, honestly and in their employers’ best interests, and amongst other things that entails avoiding any possible conflicts of interest. A recent Labour Court decision confirms that any breach of this duty risks dismissal. A long-service municipal employee dismissed An employee
Employees be Warned! A Conflict of Interest Can Get You Dismissed Read More »
“It is well established that contractual provisions are against public policy ‘… if there is a probability that unconscionable, immoral or illegal conduct will result from the implementation of the provisions according to the tenor’” (extract from judgment below) When you choose to buy into a security estate or other community scheme, you will invariably
Security Estates: Are Your Rules Enforceable? Read More »
Honest taxpayers, particularly those struggling to get legitimate refunds out of SARS whilst its fraud prevention systems grind along slowly, will hope that potential tax cheats take fright at the stiff sentences handed down recently to three company directors. They were convicted of submitting 198 fraudulent VAT returns over a 3 year period, involving a
When Crime Doesn’t Pay: VAT Fraudsters Behind Bars for 25 Years Read More »
“This feels like a victory for Britain’s children” (celebrity chef Jamie Oliver commenting on news that a sugary drinks levy will be introduced in the UK in 2018) Tax increases are on the way and Treasury has signalled that a sugar tax (more correctly, a “Health Promotion Levy”) will be levied from 1 April 2018.
Sugar Tax: Is It Good For Us? Read More »
“A bubble is an economic cycle characterized by rapid escalation of asset prices followed by — a massive selloff.” (Investopedia definition) You come home from work one day and see your next door neighbour off-loading an expensive flat-screen T.V. He tells you he has become wealthy from his Bitcoin holdings. You gotta buy some he tells you
Bitcoin: Is A Bubble Driving Up The Price? Read More »
Nothing is more demoralising than running into financial difficulties. Suddenly all your energies are focussed on survival rather than growing the business. The fun goes out of the organisation, rumours of retrenchment flourish and if management aren’t careful, the rumours can become self-fulfilling. The importance of liquidity and solvency ratios Since the “new” Companies Act
Directors: Watch Your Liquidity and Solvency! Read More »
Dear Student BGR Pyper Turner Ing/Inc would like to help you financially with your study costs as well as give you an opportunity to complete your traineeship with a highly regarded, medium sized audit firm with an enjoyable work environment in Somerset West. Bursary for full time studies: For successful applicants, we are offering a
BACC Hons. Bursary offered by BGR Pyper Turner Inc Read More »
“Forewarned is forearmed” (wise old proverb) The Protection of Personal Information Act (POPI) has been in the public domain for several years and has been enacted into law, but its enforcement provisions are not yet in effect. The appointment of a Regulator and the issuing of draft Regulations for public comment, however, indicate that the
SMEs Beware: POPI is Finally Becoming a Reality Read More »
“Running into debt isn’t so bad. It’s running into creditors that hurts” (Unknown) Debts prescribe (become uncollectable) after a specified period of time – 3 years for most run-of-the-mill debts but 30 years for others such as judgment debts, mortgage bond debts, property rates and tax debts. Various other periods apply to specific statutory debts
Creditors and Debtors: Important New Prescription Judgement Read More »
