Media
Selling Property this Festive Season: The Tax Angle
December and January have always been prime months for selling residential property in South Africa, and if you are a “Festive Season Seller”, here are two really important tips for you. Plan your financesUnderstand and plan for all the financial implications, not just the legal ones.Prepare a cash-flow forecast so that you know what you will receive and when, and what you will have to pay and when. Your forecast will tell you what funds you must have...
Generational Wealth Planning – To Your Children and Beyond!
“Are we being good ancestors?” (Jonas Salk) What do you plan to give your family this Festive Season? Now’s the time to think beyond the brightly wrapped gifts under the tree and get started on an estate plan which will leave your loved ones the lasting gift of financial freedom. Estate planning involves a lot more than just executing a valid will, but let’s start off with a reminder that a will must always be your top priority. Your will is the heart of your...
A “Running Down” Damages Claim – Elite Athlete v Happy Snapper
“This is a running down case: literally” (Extract from judgment below) The scene is Cape Town’s iconic Sea Point Promenade. An elite runner participating in a race knocks down a pedestrian out for a Sunday walk, causing serious injuries. The pedestrian sues both the runner and the race organiser for damages of R718,000. The outcome is another reminder to us all to be aware of our surroundings at all times – a moment’s inattention can change everything in a...
Employers: Don’t Miss Your Employment Equity Report Deadline!
Before you close up for the year, remember that if you are a “designated” employer, your Employment Equity Act (“EEA”) Report is due on 15 January 2023. Failure to comply carries substantial penalties so don’t miss this deadline. You are likely to be a designated employer if either – You have 50 or more employees, or Your annual turnover equals or exceeds your particular industry’s threshold. See the table below for details. (Source – Schedule...
Website of the Month: Don’t Stress this Silly Season!
“You can tell a lot about a person by the way they handle three things: a rainy day, lost luggage and tangled Christmas tree lights.” (Maya Angelou) December holidays are a time for winding down, recharging your batteries and sharing some quality family time. But it can also be stressful. There’s a reason we often talk about the “Silly Season”. Don’t let the pressure get to you! Relax, take a deep breath, and read “10 tips to reduce festive season...
Bond Clauses: Beware the Deadlines!
“I love deadlines. I love the whooshing noise they make as they go by.” (Douglas Adams) Here’s yet another reminder from our courts on the danger of not complying strictly with every provision in a property sale agreement. Don’t be like Douglas Adams and listen to the deadlines go whooshing by – missing a property sale deadline is a mistake, probably an expensive one. The deadline set by every bond clause is no exception… Sale’s a dead duck. Who gets the...