Tag: disclosure

During Parliamentary debates on amendments to the Companies Act in 2023, it was noted that the biggest opposition to the amendments related to the disclosure of remuneration. With the President signing the Companies Amendment Act on the 26th of July 2024, debates on the new remuneration requirements will resurface.

With 2024 being the first year that trust taxpayers are tasked with submitting third party IT3(t) returns to South African Revenue Service (SARS) by 30 September 2024, this change of the filing season could potentially offer a silver lining for trust taxpayers, granting them additional time to prepare for their 2024 tax return filing along with the added compliance measures that come with the submission.

In a significant move towards enhancing efficiency, transparency, and accountability in public procurement processes, the gazetted Public Procurement Act of 2024 (Act) aims to revolutionise the way government entities engage in procurement activities.

On 27 June 2024, the South African Revenue Service (SARS) announced its enhanced Beneficial Ownership disclosures for the 2024 Filing Season. Not even 24 hours later, the Companies and Intellectual Property Commission (CIPC) issued a media release enforcing beneficial ownership (OB) declaration, to be able to file annual returns. This may simply be a compliance coincidence, but more likely a strategic move to eradicate non-compliance for companies, trusts, and partnerships, on all levels.

The Promotion of Access to Information Act 2 of 2000 (PAIA) is an empowering piece of legislation and allows that secretes cannot be hidden in the shadows. The matter of The Health Justice Initiative vs The Minister of Health provides insight from a regulatory point of view, not only since it has consequences for the privacy and information regime but also the procurement regime.

Property is the largest investment most people will ever make and there are reams of legal and financial documents peppered with terminology throughout the lengthy process which all need to be understood and navigated, not least the condition report and how it pertains to the voetstoots clause.

There is a rare opportunity to right a lot of South Africa’s wrongs in one go. Corruption and unemployment are two major roadblocks. Permit me to explain how they can be simultaneously addressed within the current administration. I suggest an amnesty largely on the African National Congress (ANC’s) past wrongdoing in office in return for liberalisation of labour laws. This may be for a bit further down the line.

At the AI Government Summit on 5 April 2024, the Department of Communications and Digital Technologies (DCDT) launched South Africa’s Artificial Intelligence (AI) Planning Discussion Document with the purpose of the discussion document being to initiate discussion between the public and private sector to facilitate AI innovation. 

In most cases, the regular driver of a vehicle is also the holder of the car insurance policy and the person who will be covered in the event of a claim. There are, however, instances where a friend or family member may be the one taking it for a spin.

The real estate industry has undergone a profound transformation over the past two decades and, as a result, the landscape that real estate professionals navigate today bears little resemblance to the one of even a decade ago.