Thought Of The Week Archives - Page 23 of 33

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Thought of the Week | What’s in a name?

In terms of the Births and Deaths Registrations Act, no person may assume or describe themselves under any surname other than that recorded in the population register or under which such person obtained permanent residence in South Africa. For practical

Thought of the Week | NERSA withdraws private generator rules

NERSA withdraws private generator rules The National Energy Regulator yesterday withdrew the draft rules, published in April this year, that sought to introduce licencing of every form of home electricity generation, including solar photo-voltaic (PV) panels and backup generators. The

Thought of the Week | Immovable Property Sold To Settle Debt – Reserve Price Issues

Amendments to the Rules of both the High Courts and Magistrates’ Courts regarding the sale in execution of immovable property came into effect in December 2017. One of these provides for the introduction of a court-imposed reserve price, should it

Thought of the Week | Co-ownership of property: what are the risks

Buying property with someone else often makes financial sense. Examples of co-ownership include partners buying their first home together or friends sharing ownership of a holiday house. Co-owners of a property do not hold separate title to a physically delineated

Thought of the Week | This is excluded from your CGT liability

Many South Africans are cautious of Capital Gains Tax (CGT) because, essentially, it creates a tax liability when you make a profit on the sale of an asset. It is therefore good news that the capital gains (or losses) made

Thought of the Week | Tax and Divorce

“In my divorce settlement I received 50% of my ex-husband’s annuity gratification. It pays out in a week. Will I be taxed on it?” Divorcing parties often do not consider tax consequences when settling divorce disputes. Failing to pay attention

Thought of the Week | Assets in a foreign country and your will

Should you have a separate will in respect of assets in a foreign country or can you have one will to deal with all assets wherever in the world they may be? It is possible to have one will which

Thought of the Week | How is child maintenance calculated in South Africa?

According to South African law, both parents have a duty to support their child. This duty encompasses direct and indirect costs and includes educational and medical expenses, food, transport, clothing and accommodation. But how much must be contributed? The amount

Thought of the Week | New VAT rate and municipal services

Invoices for municipal services are usually issued after the services have been rendered. Therefore, if invoices for services actually rendered during March 2018 are issued for payment on or after 1 April 2018, VAT will be charged at 14%. VAT

Thought of the Week | Estate Agent Commission and VAT

The VAT increase coming into effect on 1 April 2018 triggered some tricky questions. One of these is the question what the VAT rate will be in the case of estate agent’s commission payable in respect of a mandate granted