Category: News Article

The Companies Amendment Act, 16 of 2024 and the Companies Second Amendment Act, 17 of 2024 were published in the Government Gazette on the 30th July 2024 with its aim to enhance transparency. As from 27 December 2024, The Companies Amendment Act is partially effective with the Companies Second Amendment Act being effective in its…

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…

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…

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.

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.

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…

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…

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…

Property Scams – Beware (Cyber) Wolves in Sheep’s Clothing! Advances in information technology and electronic banking have made life much simpler for many of us. The decrease in the amount of time and effort spent is however coupled with an increase in the risk of theft, fraud and error. As such, cybercrime levels are surging…