Solar Panel Tax Incentive
Solar Panel Tax Incentive Solar Panel Tax Incentive for Individuals The objective of the newly announced solar panel tax incentive for individuals announced by the Minster of Finance in the 2023/24 budget speech is to encourage households to invest in clean electricity generation capacity to supplement electricity supply. The incentive will only be available for […]
Testamentary Trusts – What You Should Know
Testamentary Trusts – What You Should Know A trust may be established in various ways. The two most common ones are either through a contract (between living persons) or by way of a last will and testament. In the case of the former, the trust is based on a contract between the founder and trustees […]
The Accuracy of Municipal Valuations
The Accuracy of Municipal Valuations Municipal Valuations are not accepted as accurate by SARS (potential tax purposes), and it is not accepted as accurate by the SA courts in litigation processes. Municipal Valuations are based on the Municipal Property Rates Amended Act 29 of 2014. Municipal valuations have the following characteristics: It is done by […]
What Are the Recent Trends in Auditing?
What Are the Recent Trends in Auditing? Artificial intelligence (AI) is transforming every industry and organisation. The rising use of AI and automation is one of the most significant trends that will also impact the future of auditing and radically change the way of auditing in the future by automating procedures and improving audit quality. […]
Settlement Agreement on Employment Equity
Settlement Agreement on Employment Equity On 28 June 2023, the South African government and the Solidarity Trade Union signed a settlement agreement on employment equity. Employment and Labour Minister, Mr T.W. Nxesi, referred to the agreement as a “ground-breaking” settlement agreement amid all the negative publicity. They added that the agreement is critical to discredit […]
Why Your Company Desperately Needs a New Look (Before It’s Too Late!)
Why Your Company Desperately Needs a New Look (Before It’s Too Late!) Picture this: your company’s logo and branding are stuck in the past like a pair of bell-bottom jeans. You know it’s time for a makeover, but change can be scary, right? Well, fear not! Embracing the wonders of rebranding is like hiring a […]
Business Rescue in South Africa Proving its Worth: An Analysis
Business Rescue in South Africa Proving its Worth: An Analysis Introduction In recent years, business rescue has emerged as a crucial mechanism in South Africa to salvage struggling companies and mitigate the adverse impact of corporate distress on the economy. As business rescue practitioners, we have conducted a comprehensive analysis of data sourced from the […]
Protecting Professionals: The Vital Role of Professional Liability Insurance
Protecting Professionals: The Vital Role of Professional Liability Insurance In today’s increasingly litigious world, professionals across various industries face a growing number of lawsuits and legal claims. As a result, the importance of having Professional Liability Insurance, commonly known as Errors and Omissions (E&O) insurance, has never been more critical. This type of coverage acts […]
Input VAT and Motor Cars
Input VAT and Motor Cars Input VAT and motor cars A vendor is generally not entitled to deduct input tax on the acquisition of a motor car, irrespective of whether it is applied for taxable purposes or not. The input tax is denied even if the vendor paid Value-Added Tax (‘VAT’) when the goods or […]
Rights of Beneficiaries in Discretionary Trusts
Rights of Beneficiaries in Discretionary Trusts Introduction Discretionary trusts in South Africa are popular estate planning tools, allowing individuals to manage and protect their assets for the benefit of their loved ones. In these trusts, beneficiaries are the ultimate recipients of the trust’s assets, but they have limited control over when and how distributions are […]