Latest News

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

subscribe to updates

Loading...

More time to comment: The Securities Financing Code of Conduct
6 December 2017 Finance & Banking

More time to comment: The Securities Financing Code of Conduct

The Registrar of Securities Services has proposed a new code of conduct which participants in the securities financing market (Code of Conduct) will need to adhere to in future. The Code of Conduct has been released in draft form under the auspices of the Financial Markets Act, 2012 (FMA).

Deductibility of legal expenses
1 December 2017 Tax & Exchange Control

Deductibility of legal expenses

For purposes of determining the taxable income derived by any person from carrying on a trade, s11(c) of the Income Tax Act, No. 58 of 1962 (Act) provides for the deduction of legal expenses which arise in the course of or by reason of a taxpayer’s ordinary trading operations. More specifically, any legal expenses actually incurred by a taxpayer in respect of “any claim, dispute or action at law arising in the course of or by reason of the ordinary operations undertaken by the [taxpayer] in the carrying on of [its] trade” will be deductible.

A win against SARS: late delivery of SARS’s rule 31 Statement
1 December 2017 Tax & Exchange Control

A win against SARS: late delivery of SARS’s rule 31 Statement

On 17 October 2017 the Tax Court (Western Cape Division: Cape Town) delivered judgment in the matter between S Company v The Commissioner for the South African Revenue Service (SARS) under case number IT0122/2017. The judgment was handed down by Judge Cloete. This judgment is of great interest to any taxpayers currently involved in prolonged disputes with SARS, in particular where there are delays on the part of SARS.

Putting a lid on prescription
29 November 2017 Dispute Resolution

Putting a lid on prescription

The Constitutional Court has recently had occasion to deal with the question as to whether or not s12(3) of the Prescription Act (Act), requires a creditor to have knowledge that the conduct of a debtor, giving rise to the relevant debt, is wrongful and actionable, before prescription might start running against that creditor.

User Generated Content and Copyright
29 November 2017 Technology, Media & Telecommunications

User Generated Content and Copyright

When you find a hybrid Pokémon at work or create Neymar’s doppelgänger with a man-bun on EA Sports’ FIFA, who owns the intellectual property in those works?

Water crisis in the Western Cape
28 November 2017 Environmental

Water crisis in the Western Cape

Director and National Head of our Environmental practice Terry Winstanley discusses water restrictions and regulations in the Western Cape.

Loading...

What to report and when? The new OTC Trade Repository Regulations
29 May 2017 Finance & Banking

What to report and when? The new OTC Trade Repository Regulations

On 20 April 2017, the Registrar of Securities Services (Registrar) published the draft Trade Reporting Obligations Board Notice for a second round of public comment (TRO Notice). The TRO Notice was drafted in terms of s58 of the Financial Markets Act, 2012 (FMA).

Asylum seekers and urgent applications against the state
29 May 2017 Dispute Resolution

Asylum seekers and urgent applications against the state

The applicants in Olatude and 5 others v the Minister of Home Affairs and 2 others (3701/2017) [2017] ZAGPJHC were asylum seekers who were at one stage holders of temporary asylum permits and had submitted applications to the Department of Home Affairs (DHA) for asylum status. The applicants alleged that, upon enquiring about the status of their applications at the relevant Refugee Reception Office (RRO), they were informed that their applications had been rejected. They were subsequently arrested without being furnished with reasons for their arrest nor were they afforded an opportunity to advance their version of events.

Improvements to dispute resolution process
26 May 2017 Tax & Exchange Control

Improvements to dispute resolution process

On 15 May 2017, the South African Revenue Service (SARS) released a statement on its website regarding improvements that have been introduced to the current dispute resolution process. According to this statement, these improvements are being implemented by SARS as part of an ongoing commitment to deliver a better service to taxpayers.

Was your vote against a business rescue plan inappropriate and what effect does it have, if set aside?
24 May 2017 Business Rescue, Restructuring & Insolvency

Was your vote against a business rescue plan inappropriate and what effect does it have, if set aside?

In the case of First Rand Bank Limited v KJ Foods CC (in business rescue) (734/2015) [2015] ZA SCA 50 (26 April 2017), the main issue that the Supreme Court of Appeal (SCA) had to determine was whether the High Court of Pretoria (Court a quo) was correct in setting aside a vote by the appellant, FirstRand Bank Limited (FNB), against the adoption of a business rescue plan (plan) on the basis that it was reasonable and just to do so in terms of s153(7) of the Companies Act, No 71 of 2008 (Act).

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...

Tax Law Amendment Act
16 May 2016 Tax & Exchange Control

Tax Law Amendment Act

The ministry of finance says that the 2015 Tax Law Amendment Act provisions relating to retirement will come into force on 1 March 2016, however the annuitization requirement for provident fund will be postponed to the 1 March 2018 but some tax experts are concerned that the delays will hit consumers in the long term. Ruaan van Eeden, director in the Tax and Exchange Control practice explains the implications of this latest development.

Johan Jacobs talks about the budget speech
16 May 2016 Trusts & Estates

Johan Jacobs talks about the budget speech

Johann Jacobs, national practice head and director in the Trust and Estates practice talks about the budget speech which was delivered by the finance minister from trusts tax perspective.

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.