Often people say wistfully “I wish I had my own business”. Some of them take it further and decide what kind of product or service they will offer. A last few go as far as putting pen to paper to do some planning and calculations. It is at this stage where you need to considerRead more about SO, YOU WANT TO START A BUSINESS? FIRST CONSIDER THE FOLLOWING FACTORS[…]
A purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to the payment of VAT or transfer duty to SARS. When an immovable property is transferred, either VAT or transfer duty is payable. To determine whether VAT or transfer dutyRead more about TRANSFER OF A PROPERTY: IS VAT OR TRANSFER DUTY PAYABLE?[…]
This is a subject which causes more and more discussion and people become more knowledgeable about Executor’s fees and how it is calculated once a person dies and his or her estate is left to the Executor to wind up. The maximum Executor’s fee is fixed by law. The current maximum permissible Executor’s fee isRead more about APPOINTMENT OF THE EXECUTOR OF MY WILL[…]
It is an unfortunate reality that marriages may after many years end up in divorce. When this happens the parties either have to agree on how assets are to be split between themselves, or a court would order a certain division of assets to apply. One such asset which is often involved is the accumulatedRead more about TAX ON PENSION FUNDS AND DIVORCES[…]
SARS recently published two Binding General Rulings (number 40 and 41) that have put the tax treatment of non-executive director’s fees to bed, which will come in effect on 1 June 2017. As it stands, a Non-Executive Director (NED) earning more than R1 million in director’s fees in any 12-month period should register for VAT.Read more about NON-EXECUTIVE DIRECTORS – HAVE YOU REGISTERED FOR VAT?[…]