Interest rate cuts: a welcome relief
On 19 September 2024 the Monetary Policy Committee of the South African Reserve Bank (“SARB”) announced an eagerly anticipated interest rate cut of 25 basis points, signalling the end of the interest rate peak in South Africa. Lower interest rates play a significant role in shaping the economic landscape of South Africa. The impact and […]
A significant step towards gender equality: husbands allowed to take the wife’s surname
Introduction: Long-standing legal conventions in South Africa prohibit husbands from adopting the surname of their wives after marriage. In a recent ground-breaking ruling however, two husbands won the right to assume the surname of their wives, paving the way for further steps towards gender equality in South Africa. Background: The High Court case JJ and […]
STEPPARENT MAINTENANCE IN SOUTH AFRICA: N.M V B.M AND THE EVOLUTION OF PARENTAL RESPONSIBILITY
The recent judgment in N.M v B.M and Others (11384/2024) [2024] ZAWCHC 254 (11 September 2024) has placed stepparent maintenance in the spotlight of South African family law. This case illustrates the evolving complexity of family structures, as well as the challenges traditional notions of parental responsibility face in modern blended families. At the core […]
Dividing Estates – What happens when an individual doesn’t have a Will.
When a person passes away without leaving a valid will behind, the family of the deceased is left without a guide of how the estate will be divided and this, many times causes a panic amongst those left behind. Questions arise such as: What will happen to the assets now? Will it be forfeited to […]
Budget Highlights 2019/2020
No major changes or surprises in the 2019/2020 Budget Speech. Individual Taxpayers should take note of the changes in their Personal Income Tax after their annual salary increase. There are no changes to Transfer Duty offering relief to property buyers.
Property Developers Beware: How taxes can disrupt your cash flow
A recent Supreme Court of Appeal (SCA) judgment has confirmed that when a property developer enters into an agreement with a buyer to transfer the property, even if the developer only actually gets paid in a subsequent tax year, the income is deemed to have accrued to the developer at that date. The developer must […]
Festive Wishes from the Directors at Faure & Faure Inc.
Festive Wishes from the Directors at Faure & Faure Inc.
Buying Property this Festive Season? Check the Title Deed First!
Firstly, what exactly is a title deed and why check it? In a nutshell, a “Title Deed” (also called a “Deed of Transfer” – they’re the same thing) is proof of who owns a particular property. It’s issued by the local Deeds Office after a conveyancing attorney has registered transfer to a new owner. The […]
Firearm owners: What to do if your licence has expired
Possession of an unlicensed firearm is, for good reason, a serious offence carrying heavy penalties. Media reports suggest that only 3m out of a total of 5.3m guns are registered and legally owned. That’s 2.3m illegal firearms out there! What happens when a firearm licence expires? Caught up in this is the almost half a million […]
Expunging a criminal record for the use of dagga – Criminal Record Dagga
With the recent judgment in the matter of the so called “Dagga couple” (Minister of Justice and Constitutional Development and Others v Prince (Clarke and Others Intervening); National Director of Public Prosecutions and Others v Rubin; National Director of Public Prosecutions and Others v Acton (CCT108/17) [2018] ZACC 30; 2018 (10) BCLR 1220 (CC) (18 […]