AA - July 2021

# RULES FOR 90 DAY NOTICE PERIOD – July 2021

The law states that any person wishing to sell their home needs to give their bank or bond originator written notice of their intent to cancel a bond. The notice period may differ from bank to bank but as a general rule your bank will require 90 days’ notice…

Cape Town Deeds Office – 15 July 2021

During this time we are experiencing extreme delays at the Deeds Office due to the adjusted Level 4 restrictions and the Deeds Office now working with one third the number of employees…

Is Tax Avoidance legal? – 13 July 2021

There is a general misconception between the terms “tax avoidance” on the one hand and “tax evasion” on the other. These terms can be confusingly similar but there is an important distinction between these tax terms that can have the result of the taxpayer being either on right side of the law, or the wrong side of the law…

Owning assets in a foreign country – 3 July 2021

More and more South Africans use their annual discretionary foreign investment allowances to invest offshore and to acquire assets in foreign countries. The question to be asked then , is whether one needs to have a separate Will for those assets…

Property is a tangible asset you can count on – 19 July 2021

Investing in property is usually done to earn a return through rental. One may even want to sell the property in the future, receiving a significant return, considering that land and buildings do not depreciate in the same way that other assets do…

South Africa joins other countries in push for a global tax – 5 July 2021

South Africa has joined 130 other countries in calls to introduce a global tax.
In talks held by the Organization for Economic Cooperation and Development (OECD) last week, the countries agreed to a plan to set a minimum corporate tax rate and establish a new regime for sharing the taxes imposed on the profits of multinational firms…

When incapacity results in the lapsing of a power of attorney – 8 July 2021

A power of attorney is a formal document where a person (the principal) gives another person (the agent) the ability to act legally on his behalf. It is not a contract but rather an expression of will by the principal. Typically, a power of attorney allows an agent to manage the proprietary and financial affairs of the principal should the principal become unable to do so…