“MTl’s business clearly amounted to an unlawful ponzi-scheme, i.e. a fraudulent investing scam promising high rates of return to investors and generating returns for earlier investors with investments taken from later investors.” (Extract from the MTI judgment)...
News
Effective 1 March 2024: New National Minimum Wage
The National Minimum Wage (NMW) for each “ordinary hour worked” has been increased from 1 March 2024 by 8.5% from R25-42 to R27-58. Domestic Workers: Assuming a work month of 21 days x 8 hours per day, R27-58 per hour equates to R220-64 per day or R4,633-44 per month....
Budget 2024: Your Tax Tables and Tax Calculator
How much will you be paying in income tax, petrol and sin taxes? Use Fin 24’s four-step Budget Calculator here to find out. The unchanged transfer duty and tax tables, with a note on fiscal drag Unchanged from last year, so taxpayers can breathe a sigh of relief that...
Why Buyers Should Ask for Building Plans (and Why Sellers Should Supply Them)
“No person shall without the prior approval in writing of the local authority in question, erect any building in respect of which plans and specifications are to be drawn and submitted in terms of this Act.” (National Building Regulations and Building Standards Act)...
A Valentine’s Day Thought for Life Partners: What is a “Universal Partnership”?
“Marriage is the chief cause of divorce” (Groucho Marx) This Valentine’s Day, think about the legal aspects of your romantic relationship. They’re a lot less exciting than the traditional declarations of love backed up by chocolates and flowers, but they’re just as...
You Can (and Should) Both Discipline and Prosecute Thieving Employees
“It’s the profile of the most trusted individual, in a position of trust, like an accountant or bookkeeper. They usually never take leave, and someone who never allows anyone access to their system would go to the length of taking their laptops with them...
“Pay Extra for My Generator or I’ll Cut You Off During Loadshedding”. Can a Landlord Do That?
Loadshedding continues to plague us and our businesses, and when tenants are connected during power cuts to their landlord’s alternative power source – such as a generator – it is essential for both parties to understand their respective rights. Lights out for a...
Can You Use Land Use Laws to Close Down a Neighbour’s Business?
“A bad neighbour is as great a calamity as a good one is a great advantage”. (Hesiod, poet of Ancient Greece) Your neighbour’s business is driving you to distraction. Perhaps it’s loud all-night music, or an invasion of your hard-earned privacy, or illegal parking in...
Estate Planning: Remember your Pets!
“The greatness of a nation and its moral progress can be judged by the way its animals are treated.” (Mahatma Gandhi) For many of us our pets are a central part of our lives, our much loved “fur babies”, our companions, exercise partners, even therapists through the...
Now Creditors Can Apply for Directors to be Declared Delinquent – Why is That Important?
“He who is quick to borrow is slow to pay” (Old proverb) A recent High Court decision means that, for the first time, creditors of debtor companies are specifically cleared to apply for the company’s directors to be declared “delinquent” in certain circumstances. And...