News Flash: BBBEE Employee Share Schemes – true empowerment or not?

Since the recent amendment of the Broad Based Black Economic Empowerment Act 53 of 2003 and its regulations, i.e. the Codes of Good Practice, (jointly referred to as the “BBBEE Act” or the “Act”), whereby complying with the ownership requirement of the BBBEE scorecard, employee share schemes have become more popular than ever. Despite this, […]

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When must a Non-Executive Director be VAT registered

On 4 May 2017, SARS made a Binding General Ruling (BGR) that deals with the VAT treatment of the activities conducted by Non-Executive Directors (NEDs) and further clarifies whether those activities fall within the ambit of proviso (iii)(aa) or proviso (iii)(bb) to the definition of “enterprise” in section 1(1) of the Value-Added Tax Act 89 […]

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Take note of the new Property Practitioners Bill

On 31 March 2017, the Department of Human Settlements has published the Property Practitioners Bill (hereinafter referred to as “the Bill”) in Government Gazette 40733 (Notice Number 246) for public comment.  The Bill is designed to regulate property practitioners and will repeal the current Estate Agency Affairs Act No. 112 of 1976. In the Bill, […]

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The Impact of the FICA Amendment Bill

The Financial Intelligence Centre Amendment Bill, commonly known as the FICA Bill was signed into law during April 2017. The FICA Bill brings about amendments to the Financial Intelligence Centre Act 38 of 2001 (“FICA”), which aims at combatting money laundering and the financing of terrorism. This signing of the FICA Bill has been received […]

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Blackmonday: The impact on your business

As many of you are aware, the announcement by the President of the Republic of South Africa, Jacob Zuma, on Thursday, 30 March 2017, regarding cabinet reshuffling, caused a great uproar in communities all over South Africa. One community in particular created the “#BlackMonday” movement, captioning on their website “our souls are not for sale”. […]

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