Transfer Duty – No surprises – Part 2

The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]

What to do after discovering fraud in your business

Anyone who’s ever had the misfortune to fall prey to credit card fraud, knows that it’s a huge hassle. If you’re running a business, you should be aware that your business may be at an even greater risk of having its financial data compromised, which can have much more serious implications compared to that of […]

Self-invoicing for VAT purposes

As a result of the specific nature of goods, it is common practice that certain recipients of goods and services “self-invoice” when they receive goods or services from their suppliers. In other words, they do not receive an invoice from the suppliers – instead, they invoice themselves. This scenario is typically found where the volume or […]

The real estate landscape post-COVID

While the true effect of the lockdown will only be evident in a few months’ time, once the dust has settled around the re-opening of the economy, the real estate market is still vying for an optimistic outlook. But even though it is still a buyer’s market, thanks to various measures that have been taken pre- and mid-lockdown to assist […]

SARS’ power to appoint a bank as a collecting agent

In SIP Project Managers (Pty) Ltd v CSARS (29 April 2020), the Gauteng Division of the High Court ruled against SARS on the appointment of a third-party (Standard Bank, in this case) to collect tax debts from taxpayers’ accounts. The matter was an application for declaratory relief against SARS for such an appointment to be set aside […]