Can a testator disinherit their surviving spouse?
The Maintenance of Surviving Spouses Act 27 of 1990 permits surviving spouses to seek maintenance from the deceased spouse’s estate upon the marriage ending due to death. This claim lasts until the survivor’s death or remarriage and factors in estate value, the survivor’s financial circumstances, marriage duration, living standards, and age. It is widely recognised […]
Addressing minority shareholder oppression: Effective remedies
Being a minority shareholder can leave you powerless in situations where decisions are made against your wishes. Most Memorandums of Incorporation (MOIs) typically require a 75% majority vote for special resolutions to pass, regardless of your dissent. This scenario can lead to feelings of oppression and unfair prejudice. The word oppressed was derived from the […]
To claim or not to claim VAT, that is…
Some vehicles you cannot claim VAT on, some you can and knowing the difference can save you a lot of money. When can you claim input VAT on a vehicle? Most businesses that are registered for VAT will be aware that you generally cannot claim input VAT on the purchase of a ‘motor car’ as […]
What to Do if You Owe SARS Money
Owing money to the South African Revenue Service (SARS) can be stressful, but don’t panic. By understanding your options and taking prompt action, you can resolve the issue and minimise the impact. This guide will equip you with the knowledge you need to navigate a tax debt situation. The importance of addressing tax debt Take […]
Thrive in Today’s Market: How Business Advisory Services Fuel Growth
In today’s dynamic business environment, simply offering a quality product or service isn’t enough. Success hinges on strategic planning, sound financial management, and the ability to adapt. Business advisory services bridge this gap by providing the expertise you need to navigate challenges, seize opportunities, and achieve sustainable growth. Unlocking financial potential: Expert guidance: Advisors become an […]
Essential financial lessons every parent should pass down
It’s true; financial literacy is as crucial as academic education, and many of us find ourselves reflecting on the lessons we wish were imparted by our parents. Growing up in South Africa, where economic challenges and opportunities coexist, understanding money management from an early age could have set a solid foundation for personal financial success. […]
Can foreign judgments be enforced in South Africa?
A judgment granted by a foreign court is not directly enforceable in South Africa but constitutes a prima facie proof of debt (the clearest possible proof of debt). One would still need to institute an action from the South African court based on the foreign judgment. The Enforcement of Foreign Civil Judgments Act 32 of […]
Unlocking the full potential of your medical aid
In South Africa, having medical aid is a critical step towards ensuring your health and well-being, but it’s equally essential to maximise the value of your investment. With rising healthcare costs and a multitude of medical aid options available, understanding how to get the most out of your medical aid is essential. In this article, […]