Staff Dismissals: Beware, There’s No Honour Amongst Thieves and No Short Cuts

“A plague upon it when thieves cannot be true one to another!” (Falstaff, in Henry IV Part I)  We know how time consuming dismissing staff can be. It leads to loss of productivity and extra legal costs can be incurred. But be careful if you are considering taking short cuts to get the matter out …

Staff Dismissals: Beware, There’s No Honour Amongst Thieves and No Short Cuts Read More »

A nightmare on SARS street: They’re using debt collectors to recover tax

Our two worst nightmares are owing SARS money and being pursued by debt collectors. These nightmares are fusing into one as SARS have contracted debt collectors to recover amounts due to SARS that are older than four years. Why would SARS use debt collectors?  Some commentators have expressed surprise that SARS would take such a …

A nightmare on SARS street: They’re using debt collectors to recover tax Read More »

Tax proposals to hit low interest loans to trusts

By David Warneke, Head of Tax Technical, BDO South Africa  The Draft Taxation Laws Amendment Bill of 2016 includes far-reaching proposals relating to the Income tax treatment of low interest or interest free loans to trusts. The proposals, if enacted, could lead to the unwinding of various trust structures. The proposed wording (contained in a …

Tax proposals to hit low interest loans to trusts Read More »

Companies: How private are shareholders’ details?

“Privacy, like other rights, is not absolute. As a person moves into communal relations and activities such as business and social interaction, the scope of personal space shrinks” (Extract from judgment below) All companies – big and small, public and private – must keep registers of their shareholders and directors.   And, as the SCA (Supreme …

Companies: How private are shareholders’ details? Read More »

Company directors: Beware of the risks with resolutions

“The devil’s in the detail” (wise old idiom)  The “new” Companies Act (the Act) has some requirements which can easily be overlooked. They may seem to be minor and technical, but not complying with them could expose you to major risks.  In our increasingly litigious society, it is important to be thorough.  For example – …

Company directors: Beware of the risks with resolutions Read More »