July 2015

Estate agents: Audit requirements

Section 29 of the Estate Agency Affairs Act (EAAA), Number 112 of 1976, states that every estate agent shall keep such accounting records as are necessary to fairly reflect and explain the state of affairs of all monies received or expended, including monies deposited to a trust account or interest-bearing…

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Public benefit organisations: Profit from tax benefits

Organisations with philanthropic missions serving the general public may enjoy the benefit of SARS’ generosity if they have all their ducks in a row. There are, however, quite a number of requirements and stipulations which must be adhered to in order to qualify, and companies that want to apply, should…

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SARS prescription

Imagine the following scenario: a taxpayer named Andrew is on his annual vacation for four weeks. On the fifth day of his vacation, he is lying carefree in the sun with his toes wiggled into the warm beach sand.  A thought crosses his mind: perhaps he must check his email…

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So when am I authorised to act as trustee?

The Trust Property Control Act 57 of 1988 defines a trustee as meaning “any person (including the founder of the trust) who acts as a trustee by virtue of an authorisation under Section 6.” In the matter of Lupacchini vs Minister of Safety and Security (16/2010) [2010], ZASCA 108 (17…

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