Archive for Apr 2011

THE NEW COMPANIES ACT – CAN YOU STILL TRADE USING YOUR CLOSE CORPORATION?

Close corporations have always been popular with smaller enterprises, combining the advantages of incorporation with lower costs and simpler administration than applies to companies. However no new CCs can be registered – and companies can no longer be converted to CCs – after the new Companies Act comes into effect shortly (at date of writing,…

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TRANSFER DUTY DOWN: HOW MUCH WILL YOU SAVE?

How will you (and the property market generally) benefit from the proposal in Budget 2011 to reduce transfer duty? First, the details – The reduction will apply to all property sales on or after 23 February 2011 No transfer duty is payable when VAT applies to a sale “Non-natural” persons (companies, close corporations, trusts etc),…

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