Publications 2014

ARE YOU A “PRESCRIBED OFFICER”? IF SO BE AWARE OF YOUR ONEROUS LIABILITIES AND RESPONSIBILITIES

December 2014

The 2008 Companies Act introduced the concept of “prescribed officers” three years ago. They are senior employees (not directors) deemed by the Act to have the obligations of directors. As such they are bound by the duties and responsibilities of directors. They also incur the liabilities imposed by the Act on directors.

IF YOUR BUSINESS LACKS FINANCIAL SKILLS..

November 2014

Changes to the Employment Equity Act (“EEA”) became effective on 1 August. They will force businesses to focus more on transformation in their businesses and to carefully review their human resource policies.

TAX COMPROMISES WITH SARS: THE JULIUS MALEMA CASE SHOWS HOW TO DO IT

October 2014

The recent high profile case of taxpayer Julius Malema, which has been the subject of much media attention and public announcements by both Mr. Malema and SARS, is a perfect illustration. Mr. Malema had not submitted a tax return since 2010 and when he did was assessed by SARS for R16 million. When he failed to pay the assessment, SARS began sequestration proceedings against him. A provisional sequestration order was granted

THE REVISED EMPLOYMENT EQUITY ACT: WHERE DOES IT LEAVE YOU?

September 2014

Changes to the Employment Equity Act (“EEA”) became effective on 1 August. They will force businesses to focus more on transformation in their businesses and to carefully review their human resource policies.

TRUSTEES: YOUR RISKS, ROLES AND RESPONSIBILITIES

August 2014

Over the past generation, greater onus has been placed on people in authority such as directors and trustees. Much attention has been placed on directors following the new Companies Act which became effective in 2011. It is a good time to relook at trustees who are governed by the Trust Property Control Act.

ENTREPRENEURS: HELP SAICA AND GOVERNMENT HELP YOU!

July 2014

We have raised the issue in past issues of the importance of small and medium enterprises (SMEs) in the economy. It is globally acknowledged that when SMEs thrive, economic growth and job creation follow.

ARE YOU A TARGET FOR SARS' VERIFICATION

June 2014

Over the past few years, SARS has accumulated a lot of data on taxpayers and has improved its systems in terms of using this data to pick up errors or omissions by taxpayers.

YOUR E-BOOKS AND MUSIC: MORE EXPENSIVE ON 1 JUNE!

May 2014

New amendments to Value Added Tax legislation will from 1 June draw foreign suppliers of e-commerce services into the VAT ambit. This means that we will have to pay VAT on items such as e-books and iTunes.

RISK MANAGEMENT - A VITAL PART OF YOUR BUSINESS

April 2014

Risk is an integral part of business. Every time we launch a new product or buy new assets there is risk involved. It has become accepted for many businesses, particularly large and multi-national corporates to consider risk as part of their governance and compliance process.

YOU AND BUDGET 2014

March 2014

There were no real surprises or changes announced by Minister Gordhan in his budget speech. As an election is just over two months away, this is a positive outcome.

BUSINESS RESCUE IS BECOMING EFFECTIVE: IGNORE IT AT YOUR PERIL

February 2014

The new Companies Act (“the Act”) became effective on 1 May 2011. One of its focus areas was to enhance protection to ailing businesses – to give them the opportunity to get back on their feet. This had become an internationally accepted practice and the old 1973 Companies Act did not adequately address this.

POPI (THE PROTECTION OF PERSONAL INFORMATION ACT) – HOW WILL IT AFFECT YOU AND YOUR BUSINESS?

January 2014

Technology has unleashed enormous power which has altered the way we live and do business. It brings with it concentration of data which is easily accessible. When this data affects private information, protections need to be built in. POPI (which was gazetted in November) is aimed at codifying the use of and the safeguarding of such information.