No director’s pay without shareholder approval

By Intikab (Kabby) Esat is a partner Shepstone & Wylie Attorneys: Commercial Law Department   The Department of Trade and Industry has finally announced that the new Companies Act will come into effect on 1 May 2011. The Department and the Presidency have kept business on tenterhooks since the new Companies Act became law as […]

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Transfer of residence from an entity

By Victoria Hodgon, a Director in the conveyancing department at Garlicke & Bousfield Inc. In 2009 a grace period was introduced by the Income Tax Act No. 58 of 1962 (“the Act”) which allowed for a primary residence owned by a company, close corporation or trust, to be transferred to the relevant individuals without incurring […]

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Offshore investing pays off in first quarter

Despite the appearance of two black swans in the form of turmoil in the MENA regions and an earthquake in Japan, global equities ended the quarter on a strong note, outperforming a lacklustre domestic equity market by a considerable margin.   The MSCI World Index yielded a total return of 4,3% in dollar terms, versus […]

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Rates increase on the horizon?

Economic developments, particularly the potential second round inflation effects of the past year’s commodity and administered price shocks, would most likely prompt the SA Reserve Bank to hike interest rates towards the end of this year and will continue with hikes in 2012. This was the comment of private client wealth manager Citadel’s Chief Investment […]

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There’s a lot in the price already

By Jeremy Gardiner, director, Investec Asset Management It is important to stress from the outset that the world is not fixed. Sure it is fixing, but there is a big difference between fixing and fixed. Growth is improving, unemployment is falling and stock markets are firm. The problem is that it remains unclear at this […]

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Know your rights – the Consumer Protection Act

The Consumer Protection Act came into effect at midnight on 30 March 2011 and, if properly enforced, will have a dramatic effect on the life of consumers who are natural persons or small businesses with an asset value or turnover of less than R3 million. Cathryn Bode, Partner in Shepstone & Wylie Attorneys Commercial Law […]

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Retirement funds – a changing landscape

By Anton Lockem, Partner: Commercial Law Department, Shepstone & Wylie Attorneys. The proposed changes to the taxation of retirement fund contributions announced by the Finance Minister in his budget speech could substantially change the retirement landscape. These changes, if the proposals are accepted, are expected to come into operation on March 1 2012. At present, […]

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Gold predicted to resume its bull run in the near-term

In spite of the growing number of gold sceptics, the South African Gold Coin Exchange (SAGCE) maintains its bullish outlook for the yellow metal.   Alan Demby, SAGCE’s executive chairman, said in Johannesburg yesterday that the increasing number of gold bears pointed to an extension of the long-term bull run, with many commentators characterising recent […]

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Advisers can take exams in Afrikaans

South African financial advisers are now able to write the Level 1 Regulatory Examination, which is compulsory for all financial services providers, in Afrikaans following legal opinion canvassed by the Financial Intermediaries Association of Southern Africa (FIA).       According to Seamus Casserly, President of the FIA, the decision to offer the exam in […]

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The Retirement Paradox

By John Williams, The Retirement Planning Bureau Paradoxically our retirement is currently being prepared for us whether we are actively involved with it or not. If we choose not to participate (and many make that choice) then we can look forward to a stressful retirement because there will, in all probability, be less than sufficient […]

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