Uncategorized

26
Aug

Buying a Business? Make Sure the Seller Publishes Notice of the Sale

Article courtesy of Law Dot News Buying a Business? Make Sure the Seller Publishes Notice of the Sale “The purpose of the legislature in enacting s 34(1) is to protect creditors by preventing traders who are in financial difficulty from disposing of their business assets to third parties who are not liable for the debts of the business, without due
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27
Feb

Your Website of the Month: Your Selection of Budget 2019 Tax Calculators (And a Tax Guide)

“People who complain about taxes can be divided into two classes: men and women” (Anon) How long will you work for the taxman today?Input your salary into the 2019 Tax Clock calculator and find out how many hours you will spend today working for the taxman, and at what time precisely you will finally start working for yourself (warning – it’s not

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30
Jan

Property Owners, Buyers and Agents: Check for the Title Deeds Before 25 February!

“Time is of the essence” (legal phrase meaning ‘speed is essential, there’s a deadline, this is an emergency, hurry up, do it now’ – The Phrase Finder) You sell your house/apartment/office/factory/plot of land. You instruct your conveyancer to pass transfer to the buyer, and start dreaming of what you will do with the proceeds.  But then your lawyer says “Hang

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30
Jan

Buying Your First Home with a Government Subsidy

Note: If you earn over R22k p.m. (the subsidy threshold) or aren’t personally in the market for a house in the “affordable housing” bracket, please think of forwarding this article to someone who might be – perhaps a relative, friend, colleague or employee. You could be helping them take that important first step onto the property ladder! Unless you already own

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30
Jan

Your Website of the Month: 5 Steps to Business Success

Perhaps you are an employee, dreaming of starting up your own business. Or an entrepreneur looking to leverage your practical experience into another successful start-up. Or perhaps you are the CEO of a multinational planning to launch a new venture.  Small business or big, here’s a quick, practical read for you covering “what many spend fortunes hoping to learn in

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7
Jan

Beware the Building Deadlines When Buying-to-Build

Here’s yet another warning from our courts to take seriously the building deadlines commonly imposed on buyers of plots in residential estates. Failure to comply with them could expose you to heavy fines, recurring penalties and even the risk of losing your plot altogether. A Home Owners Association (HOA) imposed “double levy” penalties totalling R105k on the owners of a

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7
Jan

Victims of Corruption Take Heart – “Big Chief” Gets 15 Years Behind Bars

“… it is necessary for an unequivocal message to be sent out that corruption on the part of politicians, especially those holding high office, will not be tolerated and that punishment for those who act as Mr Block has done in this case will be severe” (extract from SCA case below) We are all of us tired of reading about

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7
Jan

Property Developers Beware: Deemed Accruals Can Seriously Disrupt Your Cash Flow

“Never take your eyes off the cash flow because it’s the lifeblood of business” (Richard Branson) A recent Supreme Court of Appeal (SCA) judgment has confirmed that when a property developer enters into an agreement with a buyer to transfer the property, even if the developer only actually gets paid in a subsequent tax year, the income is deemed to

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28
Nov

Lending to a Friend or Selling Property on Credit – Must You Register as a Credit Provider?

“Neither a borrower nor a lender be For loan oft loses both itself and friend” (Shakespeare)   It seems logical that the very strong consumer protections in the NCA (National Credit Act) are designed for commercial situations in which credit is advanced by “credit provider” businesses to “credit consumers”. But does the NCA also apply to non-commercial, once-off loans? Like

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28
Nov

Reporting Crime and the Defamation Danger: Lessons from the Workplace

Believing someone to be guilty of a crime you call the police and have the suspect arrested, only to have the charges dropped. Can you be sued for defamation? A recent High Court case provides some answers.   A fraudulent iPad order, an arrest and a R1.6m claim A government employee was, at the instigation of officials in his department,

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