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Zero-Rating for VAT

  WHEN VAT BECOMES PAYABLE If you are a VAT vendor and are selling an asset, a business or part of a business, you may not always be required to charge Value Added Tax (VAT) on the purchase price. Whether VAT is to be charged will depend on the circumstances of the transaction. For example, .. read more

Compliance Certificates

When an immovable property (“property”) is sold, certain compliance certificates must be obtained prior to registration of transfer of the property. Some compliance certificates are obligatory in terms of legislation, depending on the particulars of the transaction and property. A summary of each of the compliance certificates in the context of conveyancing is set out .. read more

Contracting with a Trust

It is common practice for a trustee of a trust to enter into a contract with a third party on behalf of his/her trust. However trustees must be aware that they must obtain the prior written (not verbal) authorization of all (or in the case of some trusts, a majority) of trustees before entering into .. read more

Antenuptial Contracts

1. INTRODUCTION Planning for your wedding and marriage is exciting. While much time and focus is directed at planning the wedding itself, it is vital that time and energy also be directed at planning for your marriage and in particular the proprietary consequences of your marriage. No one goes into a marriage contemplating a divorce .. read more

Living Wills

It is probably a family’s worst nightmare – a loved one is in an accident and is being kept “alive” by artificial means. Does the family switch the machines off? Would that be the loved one’s wish? Does the doctor agree? A living will is a document signed by a person when s/he has the .. read more

Testamentary Marital Exclusion Clauses

A common clause in wills is one where the testator declares that any bequest to a beneficiary is to be free of any community of property or profit and loss. In other words, the beneficiary’s spouse is not entitled to share in the inheritance. The rationale behind this marital exclusion clause is to ensure that .. read more

Resolutions and Authority in terms of the 2008 Companies Act

The 2008 Companies Act has given more power to the directors of a company, but also more responsibility. It is important that people dealing with companies know who the directors are and what authority they have to bind the company. Shareholders also need to know their rights. For more details, have a look at Newsletter .. read more

Affordability Assessments in terms of the National Credit Act

The National Credit Act requires a credit provider to conduct an affordability assessment before entering into a credit agreement with a consumer. Failure to conduct this assessment properly (or at all) will make the credit provider guilty of reckless credit and expose the credit provider to harsh consequences. Do you know how to conduct a .. read more

When does a Power of Attorney Lapse?

ASSISTED DECISION MAKING An adult with full contractual capacity is entitled to make decisions about his/her personal welfare, financial affairs and medical treatment. An adult who does not have full contractual capacity (whether through mental illness, intellectual disability, physical disability, head injury, an extended period of unconsciousness, stroke or extreme old age) requires assistance to .. read more

Sellers Beware!

Is a seller at risk for liability for commission to two agents? The Supreme Court of Appeal (“SCA”) case of Wakefields Real Estate v Attree (666/10) [2011] ZASCA 160 raises concerns regarding a seller’s liability for estate agents commission to more than one estate agent. In this case, a purchaser was introduced to a property .. read more