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Categories
Category Archives: Finance
Directors: The Potential Liabilities You Face When Issuing Shares
In the life cycle of your company there will be times when you need to recapitalise the business. When would you need to issue shares? A basic requirement of the Companies Act (the Act) is that the company remain a … Continue reading
Posted in Finance
Tagged Companies Act, Directors, Shares
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Interest Rates in 2019 – Which Way Will They Go and Why?
“Prediction is very difficult, especially if it is about the future” (Nils Bohr – Nobel Laureate) Normally the market and economic commentators react favourably to interest rate decisions of the Monetary Policy Committee (MPC). The Reserve Bank, which houses the … Continue reading
Posted in Finance
Tagged Economy, Interest Rates, MPC
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The Medium Term Budget Speech and the Rating Agencies – Danger in December
The new Minister of Finance didn’t have much time to prepare for the Medium Term Budget Speech (MTBS) but he carried it off well. The MTBS is a three year outlook for the government budget and was introduced by Trevor … Continue reading
Box Clever With Cash When You Retire
“The question isn’t at what age I want to retire, it’s at what income.” George Foreman There are many things to consider when you retire. One thing to be careful of is the amount of money you cash in from … Continue reading
Posted in Finance
Tagged Business, Debt, Retirement savings
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VAT Increase and Accounting Systems
As you are aware, the National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April 2018. We urge you to ensure that your accounting systems are set up to process transactions at the … Continue reading
Posted in Finance
Tagged Increase, National Treasury, VAT
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Allowable Stock Deductions: Hopefully Less Tax, Less Admin
George, the CEO of a company, was driving with his Finance Director, James, to a meeting. George had learned of a recent Tax Court case around stock values and was curious to know more. “James what does this stock case … Continue reading
Bitcoin: Is A Bubble Driving Up The Price?
“A bubble is an economic cycle characterized by rapid escalation of asset prices followed by — a massive selloff.” (Investopedia definition) You come home from work one day and see your next door neighbour off-loading an expensive flat-screen T.V. He tells you … Continue reading
Running on Empty: Is Our Downgrade to Full Junk Status Coming?
To date only our Rand denominated debt (about 10% of our total debt) has been classified as junk. On the 25th of October, the new Minister of Finance will present the Medium Term Budget Framework (MTBF). Ratings agencies will closely … Continue reading
Posted in Finance
Tagged Budget, Finance, Pravin Gordhan
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FICA: Will the Revised Act Still be a Four Letter Word?
The Financial Intelligence Centre Act (FICA) has been operating since 2001 but lately has been revised to bring it into line with global practices and to sharpen its focus of fighting money laundering and terrorism financing. So common has FICA … Continue reading
Posted in Finance
Tagged Financial Intelligence Centre Act, New account, South Africa
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In The News Again: Mandatory Audit Firm Rotation
Recently the head of the IRBA and the Finance Minister announced that this would commence on 1 April 2023. There has been a backlash to this by prominent bodies such as the King Committee, the Institute of Directors and the … Continue reading