“Life is pleasant. Death is peaceful. It’s the transition that’s troublesome” (Isaac Asimov) If you don’t want to be kept artificially alive – without your consent and perhaps in pain and distress – long after your medical condition becomes hopeless, you need to communicate your decision now to the doctors, hospitals and loved ones who […]
Do You Need an “Advance Directive” or a “Living Will”? Read More »
The Companies Act (the Act) gives directors the power to run and manage the company’s business. In return it places responsibilities and personal liabilities on directors who do not fulfil their fiduciary duties. What is required of directors’ meeting minutes? Meetings of directors are to be kept and must contain at least: All resolutions passed
Directors’ Meeting Minutes: Why Are They So Important? Read More »
As the law currently stands, if a South African tax resident works abroad for 183 days or more (of which 60 days must run consecutively) in a year, that person is not taxed locally on foreign based earnings. Treasury has however released draft legislation which if adopted will repeal this exemption. For many South African
SARS’ Plans to Tax Income Earned Abroad Read More »
“Let’s choose executors and talk of wills” (Shakespeare) If you haven’t made your will yet, get it done now. Why is that so important and how should you go about it? To answer that let’s debunk a few of the more pervasive myths and misconceptions around those questions – “I’m too young to need a
7 Myths About Making a Will Read More »
There has been widespread reporting that globally, revenue authorities are clamping down on tax havens. As from next month, tax authorities from over 50 countries (set to grow to over 100 by September 2018) will be automatically reporting to their counterpart tax offices on, amongst other things, bank accounts and investments held by their nationals.
We have been speaking of hacking and ransomware for a while and it just grows and continues to make news. In a recent case in England, a small to medium-sized entity (SME) was fined GBP 60,000 (over R1m) for failing to take “basic steps” to prevent hackers from gaining access to clients’ personal information, including
Protect Your Clients’ Personal Information from Hackers! Read More »
The Financial Intelligence Centre Act (FICA) has been operating since 2001 but lately has been revised to bring it into line with global practices and to sharpen its focus of fighting money laundering and terrorism financing. So common has FICA become that people and banks now talk about “being FICA’d”. The outcomes of FICA before
FICA: Will the Revised Act Still be a Four Letter Word? Read More »
The Independent Regulatory Board for Auditors (IRBA) has proceeded with its aim of introducing Mandatory Audit Firm Rotation (MAFR), which will apply only to listed companies and public interest entities (institutions such as banks and insurers) and is intended to “enhance auditor independence and protect public interest”. Recently the head of the IRBA and the
In The News Again: Mandatory Audit Firm Rotation Read More »
If you plan to form a trust, you need to know about a new directive from the Chief Master of the High Court to all Master’s Offices in the country. The directive applies to all new trusts (those “registered for the first time”) by the Master. Following a series of court cases in which the
Trusts: New Directive on Independent Trustees Read More »
“In war and litigation, both sides suffer” (old Roman proverb) Here’s yet another reminder from our courts on how important it is – if you want to avoid the trials of litigation – for you to have your property sale agreement drawn up professionally. One thing it must do, as the case in question clearly
Your Property Sale Agreement: Be Careful How It’s Worded! Read More »
