Category Archives: Finance

THE STRUGGLE OF SAVING

We live in a time of ever-increasing living costs and financial pressure. Fuel price hikes. Food price increases due to the drought. High interest rates. Rising taxes. It is becoming more and more difficult to save, and for some people … Continue reading

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OMHEINING VAN VERLIESE (ARTIKEL 20A) VIR NATUURLIKE PERSONE

Artikel 20A het met ingang van 1 Maart 2004 in werking getree. Hierdie artikel handel oor die omheiningsbepalings wat verhoed dat natuurlike persone hul belasbare inkomste verminder deur verliese uit sekondêre handel te gebruik. Artikel 20A vervang altans nie artikels … Continue reading

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CRYPTOCURRENCY

Cryptocurrency and blockchain has been the hot topic in the media the past year. It is a concept that few truly understand, and could change the future for everyone in a major way. But what is cryptocurrency and blockchain? Per … Continue reading

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HOW FINANCIAL STATEMENT AUDITS DELIVER KEY BUSINESS INSIGHTS

Financial statement audits are not just a compliance exercise, but also an opportunity to gain knowledge that can generate positive business results. In many cases, though, companies are not taking full advantage of the insights that audits provide, a recent … Continue reading

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WHAT ARE THE VERY BEST WAYS TO SAVE MONEY FOR YOUR COMPANY?

Every serious businessman in the world understands that money needs to be spent in order to make a profit, but this does not actually mean that you can go all out and expect things to be good. Saving company money … Continue reading

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INTEREST FREE LOANS TO DIRECTORS

It is very often the case that a company extends an interest free or low interest loan to a director. This manifests either as a true incentive or benefit to that director (mostly the case in larger corporate environments) or … Continue reading

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INTEREST FREE LOANS WITH COMPANIES

The latest annual nation budget presented in Parliament proposed the dividends tax rate to be increased with almost immediate effect from 15% to 20%. The increased rate brings into renewed focus what anti-avoidance measures exist in the Income Tax Act[1] … Continue reading

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BUDGET 2017

Following the annual national budget speech delivered by Finance Minister Pravin Gordhan on 22 February, we highlight some of the most significant matters arising below: A new tax bracket will be introduced targeting the wealthy as well as trusts. It … Continue reading

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THE COMPANIES ACT’S SOLVENCY AND LIQUIDITY TEST

A company would satisfy the solvency and liquidity test if, considering all reasonably foreseeable financial circumstances of the company at that time: (a) the fair value of the assets of the company equal or exceed the fair value of its liabilities; … Continue reading

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FINANCIAL ASSISTANCE BY COMPANIES TO ISSUE SHARES

Section 38 of the Companies Act, 61 of 1973 (now repealed) contained a prohibition against companies issuing shares to prospective shareholders on loan account. This was identified as one of the hurdles in the way of BEE empowerment deals specifically … Continue reading

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