Property development can be a profitable business, but it also carries substantial risks. One of those is cash flow problems – get your projections wrong and you could face serious financial trouble. So it’s important you know of the recent SCA decision about a R1.9m income tax assessment levied by SARS on a developer which...Read More
Property development can be a profitable business, but it also carries substantial risks. One of those is cash flow problems – get your projections wrong and you could face serious financial trouble. So it’s important you know of the recent SCA decision about a R1.9m income tax assessment levied by SARS on a developer which...Read More
Corruption hurts us all in both our business and our private lives. Even those of us who aren’t the direct victims of tender fraud or bribery requests lose out from the general loss of confidence and investment in the country. So we can all take heart from two recent Supreme Court of Appeal decisions relating...Read More
Buying into a residential estate can be a great way of acquiring a safe and secure “dream home” for you and your family. Choose wisely and you also gain a valuable asset. You can either buy an existing house in the estate or you can buy a vacant stand on a “plot-and-plan” or “buy-to-build” basis....Read More
Both employers and employees should be up to speed with the new labour legislation which will affect all businesses and individuals on one level or another. Firstly we discuss the new “parental leave” provisions relevant to fathers, adoptive parents and commissioning parents in surrogacy agreements. Next we look at the new National Minimum Wage and...Read More
SIGNING SURETY – THE STING’S IN THE TAIL “She just did not want to be liable if he defaulted, a common regret felt by those who stand surety for defaulting debtors” (extract from judgment below) In the beginning…You are totally relaxed. The bank won’t give your son /daughter / spouse/partner/ company/ friend a loan unless...Read More
When you sell anything, our law requires that you deliver it to the buyer without any defects. That’s not easily achieved with property and you should always protect yourself with a voetstoots (“as is” or “without any warranty”) clause in your sale agreement. But, as a recent High Court case involving a house with roof leaks, defective...Read More
“Invincibility lies in the defence; the possibility of victory in the attack” (Sun Tzu) It’s an all-too-common scenario. When you try to recover your money from a debtor, you find that all his/her assets (including the luxury home, holiday house, and ocean-going yacht) are held by a family or business trust. Creditors: Follow the Assets...Read More
“Invincibility lies in the defence; the possibility of victory in the attack” (Sun Tzu) It’s an all-too-common scenario. When you try to recover your money from a debtor, you find that all his/her assets (including the luxury home, holiday house, and ocean-going yacht) are held by a family or business trust. Creditors: Follow the Assets...Read More
A bequest to your divorced spouse in your will, which was made prior to your divorce, will not necessarily fall away after divorce. According to the Wills Act 7 of 1953, unless expressly stated otherwise, a bequest to your divorced spouse will be deemed to have been revoked should you die within three months of your...Read More
