MJ Minter Inc on 06/01/2021

Amendments to the VAT Act

There have been a number of amendments gazetted this year to the VAT Act. The amendments came into effect on 1 April 2021 unless otherwise stated. A brief summary of some of the more important VAT amendments is provided below:

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MJ Minter Inc on 05/01/2021

Doing Business in South Africa – Our New Normal

The economic effects of the coronavirus crisis have been extensive in South Africa (SA) and a recovery to pre-pandemic levels will take several years. While it is forecast that the SA economy will recover marginally in 2021, it is likely to be uneven and subdued.

  MJ Minter Inc
MJ Minter Inc on 05/01/2021

POPIA Effective 1st July 2021

The Protection of Personal Information Act (no.4 of 2013) (hereinafter referred to as 'POPIA' or 'the Act'), which gives effect to the Constitutional right to privacy in South Africa, commenced on the 1st July 2020. There has been a grace period for one year.

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MJ Minter Inc on 04/01/2021

Liability of Directors and Prescribed Officers

Doing business in South Africa can be daunting given the complex raft of regulations and company law. Section 77 codifies liability for directors and prescribed officers. It sets out civil liability (delict and breach of fiduciary duty), and then in sub-section 3, sets out specific statutory liabilities.

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MJ Minter Inc on 04/01/2021

POPIA Topic 4

Retention periods:

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MJ Minter Inc on 03/01/2021

POPIA Topic 3

The general provisions under POPIA will apply equally to any personal information processed by an employer as part of an employee’s employment, and all employers have until 1 July 2021 to ensure that their workplaces are fully POPIA compliant.

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MJ Minter Inc on 01/01/2021

Apps and the benefits they bring

The digital landscape is constantly evolving, and as more emerging technologies gain traction, more and more opportunities become available to businesses that need to be utilized otherwise they risk falling behind – especially now that we are living in a vastly different “New Normal”. It is now harder for businesses to only rely on word of mouth or the use of bulk emailing to keep their clients informed and must utilize all digital platforms in order to thrive.

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MJ Minter Inc on 11/01/2020

POPIA Topic

Personal Information

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MJ Minter Inc on 10/01/2020

Technology And Our New Normal – The Use Of APPS

The COVID-19 pandemic has accelerated digital disruption and led to significant, long-term market uncertainty. While this pandemic has forced many businesses to reduce or suspend operations, affecting their bottom line, it has helped to accelerate the development of several emerging technologies. This is especially true for innovations that reduce human-to-human contact, automate processes, and increase productivity amid at social distancing.

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MJ Minter Inc on 05/01/2020

Director's Role Amidst The Covid-19 Pandemic

The director’s role has without a doubt become more onerous amidst the Covid-19 pandemic. However, the Companies Act makes provision for operating in a virtual world, which includes, inter alia:

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MJ Minter Inc on 05/01/2020

Covid -19 – Level 3 Workplace Regulations

All persons who are able to work from home must do so. However, persons will be permitted to travel to and from work and for work purposes under Alert Level 3, subject to-

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MJ Minter Inc on 05/01/2020

Covid -19 Alert Level 3 Tourism Sector Measures

The past two months of lockdown have been difficult for the tourism sector. Many businesses in the sector are fighting for survival and projections showed that almost 600 000 jobs were at risk if the sector doesn’t come into operation by September 2020. This reality led to both government and private sector working together to be both innovative and putting protocol guidelines to get the sector back into operation.

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MJ Minter Inc on 03/01/2020

Remote Working

Transitioning your office to remote working conditions can be a challenge – in this article, we've rounded up 9 steps to help you make the move as quick and easy as possible.

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MJ Minter Inc on 10/01/2019

Developing a Strategy to Grow in The Short Term

South Africa has limited growth potential in the short term. While government gets its house in order, we need to make sure that, as business owners, we have the correct strategy in place to meet the challenges that face us. Real value lies in the process of putting the plan together. The act of planning helps you think things through thoroughly, and to critically re-assess your assumptions and ideas. A good strategy needs to be short, sharp and coherent, with a strong opening paragraph illustrating where you are going and how you aim to get there.

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MJ Minter Inc on 09/01/2019

Special Trust

Unlike conventional trusts, which are taxed at a flat rate of tax, a special trust is taxed on the same sliding scale applicable to natural persons. For tax purposes the following types of special trusts are recognised:

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MJ Minter Inc on 09/01/2019

Who Needs to do Estate Planning?

Many may think that they are not old enough or wealthy enough to warrant doing any estate planning. However, if a person is over the age of eighteen, no matter how small their estate is, it is advisable to begin the process. Where an estate planner is “at” in life, will determine your strategic plan for your estate, and which techniques to use in order to implement in the plan. An estate planner may be single, married, divorced, or separated. You may have minor children or adult children. You may be married for a second or third time, with children from previous marriages. You may own assets with a strong growth potential.

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MJ Minter Inc on 09/01/2019

Prescribed Investments for Pension Funds

Much has been publicised about the potential implementation of prescribed investments and resultant impact on investment returns. This policy was previously followed by the Nationalist Party but abolished in the late 1980’s.

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MJ Minter Inc on 08/01/2019

Is Your Business Sustainable?

Since the 1980’s there has been a global movement towards sustainability and sustainable development – as countries and governments have realised that economic development at the cost of destroying the planet’s natural resources and social equity does not lead to long-lasting prosperity.

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MJ Minter Inc on 07/01/2019

Business Rescue – Directors Responsibility

In the current economic climate, more and more companies are becoming financially distressed. Directors are duty bound to constantly monitor the company’s financial position, to determine whether voluntary business rescue proceedings need to be initiated. Failure to implement business rescue proceedings could result in the director being charged with reckless trading and be exposed to personal liability. It is incumbent upon directors to ensure that they place their companies into either business rescue or liquidation, or to cease trading, when the warning signs become evident. Directors should be aware of the practicalities of business rescue, and the duties and powers of the business rescue practitioner.

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