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Tax Incentives to Invest in Small Business: The Clock is Ticking

National Treasury is reviewing all of its business tax incentives to determine to what extent they are contributing to policy objectives. One such incentive under review is the “Section 12J” incentive, which allows an investor a deduction of the full amount invested in a Section 12J VCC (Venture Capital Company), provided certain requirements are met, …

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Six Important Business Lessons From The Coronavirus Pandemic

The coronavirus pandemic arrived like a thunderbolt and the unique situations it created found many companies unprepared and disorganised. Around the world, organisations began closing as it was found their emergency planning was not up to scratch and basic functions of the company could not exist in the new world. Now that we are half …

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Directors, Trustees: Can You Hold Your AGMs and General Meetings on Zoom?

Even with the lockdown easing, it seems likely that the need for social distancing will be part of our “new normal” for quite some time to come. So how as a company director do you comply with the Companies Act’s strict requirements to hold Annual General Meetings? What if you need to call an interim …

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POPIA (The Protection of Personal Information Act) is Now Law and the Clock is Ticking

After many false starts over the years (the pandemic causing one last delay this year), the enforcement provisions of POPIA (the Protection of Personal Information Act) have finally become law. The clock is ticking on the year’s grace period allowed for compliance and every business should be aware of the substantial implications of POPIA compliance, …

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Employees Working from Home: What Tax Deductions Can You Claim?

Working from home is part of our “new normal” and home offices are predicted to remain a permanent feature of many employment relationships in the future. Both employees and their employers should be familiar with the tax angles, in particular the opportunity to claim tax deductions. When and how do you qualify for deductions? What …

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Fraudsters are Everywhere: Cybercrime up 667% since Lockdown

It didn’t take the online fraudsters long to realise that the coronavirus lockdown has opened up a whole new avenue of opportunity for them. Malware, phishing and ransomware attacks are surging, and schemes offering some form of financial relief are particularly evident. All forms of online communication including emails, SMSes and Social Media posts should …

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Tax Season 2020 will be Easier Thanks to SARS’ New Approach!

SARS has announced changes to this year’s tax filing season, driven partly by its ongoing innovation program and partly by the Covid-19 pandemic. Whilst as author Margaret Mitchell pointed out there never is a convenient time for “death, taxes and childbirth”, SARS’ new changes offer time-saving benefits to taxpayers, and it is important to understand …

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Directors: Reckless Trading and Personal Liability in the Time of Coronavirus

Some businesses are flying with the many new opportunities presented to them by the lockdown crisis, but many others now face serious cash flow and liquidity problems. Now more than ever directors need to be keenly aware of their ongoing obligations in terms of the Companies Act. Failure to live up to the Act’s high …

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