Thought Of The Week Archives - Page 31 of 33

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Thought of the Week | Managing the affairs of an ailing parent

Families are sometimes faced with the need to appoint a curator for an ailing parent or sibling where the latter can no longer look after his/her own affairs due to illness or advanced age. Our law allows for a person

Thought of the Week | Two hats : Scheme’s Trustee also its Caretaker

Yes, such an appointment is perfectly possible and valid, provided (i) the trustee is also an owner; (ii) the appointment is made after a trustee resolution by majority vote to that effect (the relevant trustee may however not vote); and

Thought of the Week | Inviting the ombudsman into the sectional title arena

In response to the increase in consumer issues arising from sectional title tenure and living, the Department of Human Settlements has put in place new legislation in the form of a community schemes ombud service. The office of the ombudsman

Thought of the Week | Remember to diarise “Odometer day”!

The Income Tax Act allows taxpayers who use their private vehicles for work purposes to claim a tax deduction from the allowance received. This excludes travel between your home and work place, which is regarded as private travel. To claim

Thought of the Week | Beware the pitfalls of co-ownership

With the price of property soaring, couples, friends and business partners often decide to buy a property jointly. Be warned though that co-ownership is (not without reason) somewhat infamous, as reflected in the Roman law maxim, communio est mater rixarum

Thought of the Week | Section 35A withholding tax on non-residents selling immovable property

A recent amendment to the Income Tax Act will treat the advance payment, a withholding tax of 5%, 7.5% or 10% of the sale proceeds required where a non-resident sells immovable property, as a final payment in certain circumstances. It

Thought of the Week | Foreign Marriages

When persons of different nationalities marry, or South African citizens get married abroad, it triggers our law’s rules relating to domicilium, in terms of which it is determined which country’s laws apply to the marriage. The importance of this is

Thought of the Week | Check pending land claims before purchase

When planning to purchase a property, it would be prudent to check first whether there is a land claim pending on that particular property. While you could check with the Land Claims Court or Land Claims Tribunal, a more expedient

Thought of the Week | Pets in sectional title schemes

Pet owners should familiarize themselves with the prescribed conduct rules in a sectional title scheme before they commit to purchasing or occupying a unit therein. This is because the legal principle “caveat emptor” applies and a buyer is expected to

Thought of the Week | Tax implications of investing/donating to children

Although minors are taxed in their own name, when you invest money on behalf of your children, you as parent will be taxed on the income generated as this forms part your taxable income. Upon donating or settling income upon