We know how time consuming dismissing staff can be. It leads to loss of productivity and extra legal costs can be incurred. But be careful if you are considering taking short cuts to get the matter out of the way. A recent case illustrates this. The employer’s quandary An employee’s position was terminated after the […]
How to ensure you get high quality suppliers Best practice dictates that vetting procedures are in place that cover, at least: A review of the supplier’s financials to establish that the business has the financial means to remain sustainable and to deliver to its customers. The supplier has sound processes in place and the organisation […]
When you read that nearly 75% of the middle class experience financial difficulty and a similar percentage are in debt, it is time to worry. Add to this the economic difficulties the country is going to experience flowing from the ratings downgrades and it will not be just the poor who will suffer but many […]
The Companies Act tasks directors to apprise themselves of company activities and make up their own minds as to how decisions should be taken. Strong governance structures should also exist in companies. This spirit of independence and good governance should infuse leadership so that the best interests of the company are safeguarded. Yet when we […]
The “new” Companies Act is pitted with clauses requiring that special resolutions be passed. There are also instances where as directors you are required to take certain actions such as recusing yourself if there is a conflict of interest. It is important to note that transactions can be set aside if the necessary steps are […]
The Companies Act (the Act) gives directors the power to run and manage the company’s business. In return it places responsibilities and personal liabilities on directors who do not fulfil their fiduciary duties. What is required of directors’ meeting minutes? Meetings of directors are to be kept and must contain at least: All resolutions passed […]
When SARS have requested documentation from taxpayers who do not use eFiling, the taxpayers have had to take these documents into a SARS Branch. Now SARS have launched on online form that taxpayers can complete and upload with the documentation requested by SARS. The online form can take ten documents which need to be 5MB […]
In a recent seminar, the President of Microsoft, Brad Smith, gave his thoughts on what is unfolding in business due to COVID-19, plus how he saw the post-pandemic world. Fasten your seatbelts! Ransomware and hacking rose to high levels in 2019 and there is no sign this is abating. For example, private patient data is […]
In the current year it has taken the average South African 126 days to pay off their taxes and only from the next day did the taxpayer then work for him or herself. This date fell on 6 May this year and is globally known as Tax Freedom Day (TFD). So, what does this tell […]
There are significant obligations placed on directors by the Companies Act and personal and criminal liabilities if they fail to meet these obligations. As a director you will no doubt be focusing on critical issues like keeping your business afloat and solvent (the CIPC has waived its right to intervene when a company becomes temporarily […]
