Monthly Archives: October 2016

FINANCIAL ASSISTANCE TO DIRECTORS

A company lending money to its directors may not be as simple a process as it may initially appear to be – not even in the case of so-called “one-man” companies. There is various requirements in the Companies Act, 71 … Continue reading

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DIRECTORS’ DUTIES

Most individuals involved in the business sector consider it an honour to be appointed a director of the company with which they are involved. And so they should. Prospective company directors need, however, to be aware of the awesome duties … Continue reading

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DONATIONS TAX

Donations tax is levied in terms of section 54 of the Income Tax Act, 58 of 1962 (‘Income Tax Act’). The rate of tax is currently at 20%, and is levied on the value of any property donated by South … Continue reading

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BUSINESS ETHICS

There is a misconception that if a business complies with all legal requirements, it also has good business ethics. However, legal compliance does not automatically equate to morally sound business practices. A member of management or an employee’s conduct may … Continue reading

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