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 […]
Pandemics kill more people than wars – the introduction of the Black Death plague led to 14th Century Europe losing 40% of its population within two years. What will our world look like when normal life begins to return? Predicting the future can never be an exact science, but the consensus seems to be that […]
In this brave new world of COVID-19, many people are working from home. Even after there is a cure for the virus, this trend will likely continue. Researchers at Harvard University have come up with some good ways to ensure you get maximum productivity and loyalty from your employees working remotely. Key points Both managers […]
We read about Eskom staff having to undergo lifestyle audits so that corruption can be identified and stamped out. SARS have been conducting lifestyle audits since 2007. These audits are conducted when SARS suspects that the taxpayer is not declaring all his or her income and thus is underpaying tax due. SARS have access to […]
Globally, the COVID-19 coronavirus has spread panic amongst societies and markets. Businesses are suffering their most challenging times since the 2008 Global Financial Crisis. This is the time for urgently reviewing how events have affected your business and how you can respond to the seeming chaos. Cash is king When faced with great uncertainty, conserve […]
