Archive for Jul 2018

WHAT’S YOUR NEW TAX RETURN DEADLINE?

SARS has announced new deadlines for the 2018 Tax Season. But do you even need to file an income tax return? If you do, what’s your deadline? Are you a provisional tax payer? Are you struggling to register on eFiling?   Find the answers to all these questions and more on SARS’ “Tax Season 2018…

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LENDING MONEY REPAYABLE “ON DEMAND”: BEWARE PRESCRIPTION!

Making a loan repayable “on demand” is common amongst family members; think for example of parents making a loan to their student daughter, or of her lending money to a parent in need. It’s also used for loans between related businesses. But what does “on demand” really mean? Does it mean that the loan is…

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PROPERTY SCAMS – BEWARE (CYBER) WOLVES IN SHEEP’S CLOTHING!

“Beware the wolf in sheep’s clothing” (Aesop’s Fables) “Wolves in sheep’s clothing” have been around since the dawn of civilization and in today’s world they lurk in every corner of the Internet, lying in wait for the unwary. You become a prime target when you buy or sell property – the rich pickings on offer…

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SUING AN INSOLVENT DEBTOR – CAN YOU RECOVER FROM HIS TRUST?

Your debtor owes you a fortune, but when his estate is sequestrated there is nothing in his own name. However you find out that he is trustee of a wealthy family trust with lots of assets that you think are really his – can you recover from his trust? The answer is yes, you can,…

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DEPRESSED AND DISMISSED – A HARD LESSON FOR A HARD EMPLOYER

A recent Labour Court decision shows how dangerous it is as an employer, when attempting to dismiss an employee, not to draw a clear distinction between misconduct and incapacity. Disciplined for depression An employee, whose track record had originally been an excellent one, was charged at a disciplinary enquiry with four charges of misconduct –…

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HOW TO ESCAPE FROM A PROPERTY SURETYSHIP

“Suretyship is the precursor of ruin” (Thales of Miletus, one of the Seven Sages of Ancient Greece)   As the philosopher and mathematician Thales pointed out two and a half millennia ago, signing surety for another’s debts carries huge risk. Yet every day directors of property holding companies happily sign personal suretyships for their company’s…

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