Latest News

Get insight into the most recent legal developments across key industry sectors.

subscribe to updates

Loading...

Increased minimum wage for domestic workers
15 January 2018 Employment

Increased minimum wage for domestic workers

The minimum wage for domestic workers was increased from 1 January 2018. This is as a result of an amendment to the sectoral determination which establishes minimum wages for employees in the Domestic Worker Sector. Employers paying below the minimum wage will have to increase the amount that they pay domestic workers.

Twin peaks (Financial Sector Regulation Act) moves forward: Transitional arrangements
15 January 2018 Finance & Banking

Twin peaks (Financial Sector Regulation Act) moves forward: Transitional arrangements

Just before the holidays, on 18 December 2017, National Treasury published the draft regulations to the Financial Sector Regulation Act, 2017 (FSR Act) for public comment. This followed National Treasury’s statement of 24 August 2017, that the financial sector should expect draft regulations for public consultation setting out the proposed transitional arrangements for the transformation of the existing financial services regulators into the two new regulators (namely, the Prudential Authority (PA) and the Financial Sector Conduct Authority (FSCA)).

Loading...

Tacit FAIS advice
7 June 2017 Finance & Banking

Tacit FAIS advice

You walk into a cellphone shop with the intention of buying a new mobile phone and, on completion of the transaction, the salesperson asks you whether you want insurance cover for your new device. You say yes, so he hands you the insurance documents and points to a clause containing the calculation of your monthly instalment. You’re happy and he shows you were to sign, which you do. But… did the salesperson in this scenario provide ‘advice’ in terms of the Financial Advisory and Intermediary Service Act (FAIS) and therefore should the salesperson comply with FAIS?

Electronic flagging under the consolidated Strate Rules
7 June 2017 Finance & Banking

Electronic flagging under the consolidated Strate Rules

The Registrar of Securities Services (Registrar) recently published proposed amendments to the Strate Rules for public comment under s71 of the Financial Markets Act, 2012 (FMA). The main purpose of the proposed amendments is to consolidate the Strate Rules dealing with equity securities, bond securities and money market securities (Securities). In order to consolidate and align the Strate Rules, the current s6 (Accounts other than money market securities accounts) and s7 (Money market securities ownership register) of the Strate Rules will be consolidated and renamed “Accounts” and “Settlement” respectively.

Doing Business in South Africa
6 June 2017

Doing Business in South Africa

As our publication's name suggests, Doing Business in South Africa (DBSA) focuses on the commercial legal landscape that welcomes and directs those wishing to invest in South Africa, whether that be embarking on a new business venture or setting up local offices.

Rewarding non-striking employees?
5 June 2017 Employment

Rewarding non-striking employees?

A discussion of National Union of Metal Workers of South Africa obo Members v Element Six Production (Pty) Ltd (JS1106/14) [2017] ZALCJHB 35 (7 February 2017).

Foreign employment income, foreign employees and employees’ tax – some important considerations
2 June 2017 Tax & Exchange Control

Foreign employment income, foreign employees and employees’ tax – some important considerations

In the 2017 Budget, the Minister of Finance announced that the exemption for foreign employment income that is currently provided for in terms of s10(1)(o) of the Income Tax Act, No 58 of 1962, would be reviewed and potentially amended. We reported on this in our Special Edition Budget Speech Tax and Exchange Control Alert on 22 February 2017. While there will be more clarity on this issue when the proposed draft legislation is released later this year, there are some other issues which employers and employees should also consider in setting up their employment operations.

A matter of interest: Recent SARS ruling regarding interest on late payment of benefits
2 June 2017 Tax & Exchange Control

A matter of interest: Recent SARS ruling regarding interest on late payment of benefits

The Second Schedule to the Income Tax Act, No 58 of 1962 (Act) (Second Schedule), deals with the computation of gross income that a person receives by way of lump sum benefits. On 23 May 2017, the South African Revenue Service (SARS) released Issue Two of Binding General Ruling 31 (BGR 31), with the intention of providing clarity as to when an amount constitutes interest, as opposed to forming part of the lump sum benefit, for purposes of the Second Schedule.

Loading...

An agent's right to commission
2 January 2008 Dispute Resolution

An agent's right to commission

An agent will have a claim for commission on a sale agreement if he introduced the parties to one another, thereby being the effective cause of the sale.

Beware the bogeyman
6 November 2004 Black Economic Empowerment (BEE)

Beware the bogeyman

The macro-economic rationale that lies at the heart of black economic empowerment (BEE) is to address the...

Loading...

Loading...

Employment tax incentives
10 March 2016 Tax & Exchange Control

Employment tax incentives

Nicole Paulsen, associate in the Tax and Exchange Control practice speaks about employment tax incentives and how it expires.