Uncategorized

Home » Uncategorized

BUDGET SPEECH 2019

Finance Minister Tito Mboweni in his budget speech at the National Assembly in Cape Town on Wednesday 20 February 2019, indicated that, South Africa is ready for renewal. He pointed out six fundamental prescripts of the budget speech, being: Achieving a higher rate of economic growth; Increasing tax collection; Reasonable, affordable expenditure; Stabilising and reducing [...]

By |2019-03-24T18:16:51+00:00March 24th, 2019|Uncategorized|0 Comments

IS YOUR CONTRACT VALID?

Oftentimes we find ourselves feeling content and protected by entering into and concluding a contract/legal agreement. However, when the time comes for the obligations of the contract to be enforced it can be a very disappointing and devastating reality when you realise that the contract or the terms thereof are invalid. This article therefore seeks [...]

By |2019-03-24T18:06:15+00:00February 24th, 2019|Uncategorized|0 Comments

DIVISION OF A JOINT ASSET

So you’ve bought a property with someone and now the relationship has ended. What to do with regards to the property? When people get married and specific marital property rights come into existence, property will be divided upon divorce and according to the chosen property regime entered into. If there were no marital relationship then [...]

By |2019-03-24T17:59:46+00:00January 24th, 2019|Uncategorized|0 Comments

LIST OF ACCEPTABLE FICA DOCUMENTS IN VARIOUS INSTANCES

LIST OF ACCEPTABLE FICA DOCUMENTS IN VARIOUS INSTANCES The list of FICA below is not a conclusive and extensive list of all documents required in every possible scenario but is meant as a guide within the frame work of FICA. In all instances copies of the documents are required to be duly verified by [...]

By |2018-09-21T06:00:19+00:00July 5th, 2018|Uncategorized|0 Comments

TRANSFER DUTY ON SALE OF IMMOVABLE PROPERTY

TRANSFER DUTY ON SALE OF IMMOVABLE PROPERTY Transfer duty is payable by the purchaser on the acquisition of immovable property or the acquisition of a real right in immovable property or the enhancement of the value of immovable property by the removal/renunciation of a restriction (e.g. cancellation of a servitude). “Immovable Property” is defined as land and [...]

By |2018-09-21T05:46:51+00:00June 5th, 2018|Uncategorized|0 Comments

PROPERTY TRANSACTIONS ATTRACT VALUE ADDED TAX

PROPERTY TRANSACTIONS ATTRACT VALUE ADDED TAX Sadly as of 1 April 2018 in terms of the budget speech presented on 21 February 2018, VAT will now be levied at 15%. Certain property transactions will attract VAT and not transfer duty. How do we know when the transaction attracts transfer duty or VAT? The golden [...]

By |2018-05-16T13:32:34+00:00March 29th, 2018|Uncategorized|Comments Off on PROPERTY TRANSACTIONS ATTRACT VALUE ADDED TAX

INDEMNITY CLAUSES AND THE CONSUMER PROTECTION ACT

INDEMNITY CLAUSES AND THE CONSUMER PROTECTION ACT Many agreements, ranging from building contracts to hospital admission documents, include indemnity clauses. These clauses seek to limit the liability of suppliers wherever the supplier may cause damages, personally and/or via its employees. While it has always been an established part of our law that one cannot be indemnified [...]

By |2018-05-16T13:46:00+00:00March 7th, 2018|Uncategorized|0 Comments

MASTER’S FEES INCREASE HECTICALLY!

MASTER’S FEES INCREASE HECTICALLY! The Masters fee levied against estates of all persons who pass away after 1 January 2018 has been amended. Previously the maximum Masters fee which could be levied against an estate was R600.00. As from 1 January 2018, as promulgated in the Government Gazette Notice number 41224 on 3 November 2017, [...]

By |2018-05-16T13:49:49+00:00February 1st, 2018|Uncategorized|0 Comments

LABOUR LAW AMENDMENT ACT MAJOR CHANGES TO BE SEEN IN THE CURRENT LEAVE STRUCTURE

LABOUR LAW AMENDMENT ACT MAJOR CHANGES TO BE SEEN IN THE CURRENT LEAVE STRUCTURE Since October 2015, MP Cheryllyn Dudley has been the driving force behind the Labour Law Amendment Bill (“the Bill”) which is expected to revolutionise the current leave structure and parental rights in South Africa. This comes after a fresh approach to maternity leave [...]

By |2018-05-16T13:58:21+00:00January 5th, 2018|Uncategorized|0 Comments

Immovable Property from a Deceased

TRANSFER OF IMMOVABLE PROPERTY FROM A DECEASED’S ESTATE There are various types of deceased estate transfers. We will take a look at two types in this article. ONCE THE DEATH IS REPORTED TO THE MASTER’S OFFICE, THERE ARE TWO TYPES OF LETTERS ISSUED. Where the value of the deceased’s entire estate, including the immovable [...]

By |2018-05-17T08:56:43+00:00September 26th, 2017|Uncategorized|0 Comments