The Legal Recognition of Electronic Communications and Signatures under the ECTA
As digital technologies continue to evolve and integrate into everyday life, the application of the Electronic Communications and Transactions Act 25 of 2002 (“ECTA”) has become increasingly significant in both the public and private sectors. The Act plays a pivotal role in shaping the legal framework for electronic communications and e-commerce in South Africa. The […]
Ten Easy Ways to Save Tax
No fancy schemes, loopholes, or expensive lawyers required – and it’s all perfectly legal! Paying tax is a legal responsibility, but that doesn’t mean you can’t make the most of legal avenues to reduce your tax burden. SARS provides a number of tax-efficient strategies that individuals and businesses can use to reduce their taxable income. […]
What Does Being a Trustee of a Body Corporate Entail? (Part 1)
When all the trustees of a body corporate resign, the options available to the owners include the appointment of: replacement trustees at a special general meeting. an executive managing agent at a special general meeting or approaching the Community Schemes Ombud service to do so. appointment of an administrator by way of an application to […]
Tax Issues Relating to Independent Contractors
The following question was recently received from one of our readers: I see myself as an independent contractor as I do contract work (project management) for different companies. In the 2023 income tax year, I worked for four companies, of which only one indicated on their IRP5 under code 3616 that the income I earned […]
Why a Home Loan Prequalification Matters
So you’ve been looking to buy your dream home, and you’ve seen something for sale that grabs your fancy. Now imagine yourself walking through the front door carrying a suitcase filled with cash. You’ll certainly get the buyer’s attention, won’t you? Of course, not many people are in the fortunate position of being able to […]
Does a Settlement Agreement Constitute a Credit Agreement?
In a recent legal dispute, the court’s ruling brought to the forefront a perplexing issue that has long plagued the legal landscape: the classification of settlement agreements under the National Credit Act (NCA). The court’s decision, which emphasised the importance of preserving the amicable resolution of disputes, shed light on the intricate interplay between settlement […]
Capital Gains Tax Considerations for Retiring Small Business Owners
Retirement for small business owners is not simply a case of handing in your resignation letter and having a big party at which the company presents you with a gold watch. It often involves the not inconsiderable task of selling your business—particularly if there is no ‘heir apparent’ to take over the reins. And then […]
Mastering Record Keeping: How to Meet SARS’s Electronic Documentation Standards
Too often, taxpayers seem to forget that the most important aspect of dealing with SARS is to ensure that they can discharge their burden of proof. As a taxpayer, it is on you to provide SARS with the relevant material that, on a balance of probabilities, supports your position. Taxpayers are required to retain relevant […]
Mediation v Arbitration: What Is the Difference? PART 1
A common trend in commercial contracts is the inclusion of a mediation and/or arbitration clause. As a general point of departure, these clauses require the parties to the contract to refer any dispute arising from the contract to mediation as a first step. Should the mediation process be unsuccessful, these clauses then require that the […]
The Costs of Deceased Estates Explained
An important function of an executor, the person who is appointed by the Master of the High Court to administer a deceased estate, is to account for the liabilities in the estate of the deceased. Keep in mind that only once the liabilities in the estate have been discharged can the heirs receive their inheritances. […]