The Impact of Recent Companies Act Amendments on Audit and Review Requirements for Close Corporations
Under the amended legislative framework, members of a close corporation are now required to prepare annual financial statements (AFS) within six months after the financial year-end. This timeline was shortened from the previous nine-month period due to the incorporation of relevant provisions from the Companies Act into the Close Corporations Act 69 of 1984. Section […]
Children’s Status and Their Right to Inherit
Within the framework of South Africa’s law of succession, constitutional values such as equality and non-discrimination have elevated children’s rights to inherit significantly. Our legal position currently has impacted both the status and inheritance rights of extramarital children, children conceived through artificial insemination, children born of surrogacy, and adopted children. The Children’s Act 38 of […]
Airbnb and Sectional Title Regulations
Navigating the rules and regulations for short-term letting. With short-term letting and (more specifically) Airbnbs ramping up in South Africa, disgruntled owners and tenants are voicing their concerns when it comes to short-term letting properties contained in complexes, estates, and apartment blocks. While freehold property owners can act freely, sectional title property owners are bound […]
When Is a Trust Not a Trust?
When can the provisions of a trust deed be set aside? When you don’t stick to the rules. Far too many people pay their accountant or attorney a visit, draw up a boilerplate trust deed, sign on the dotted line, and think that this piece of paper will take away all their tax and estate […]