At the beginning of November 2013, the Department of Labour (“the department”) published a draft law called Employment Services Bill of 2012 (henceforth “the Bill”). The Bill was approved by the National Assembly on 12 November 2013 and now awaits the consideration of the National Council of Provinces.
Goldman Sachs has recently released a comprehensive report, tracing South Africa’s successes and challenges in the past two decades. In terms of the successes, the report highlights that South Africa has made structural advances in 10 key areas of the economy.
In an effort to create an enabling business environment in the province the Western Cape Government launched the Red Tape to Red Carpet Programme in 2011. The programme specifically targets costly, complex and time-consuming rules and regulations that hamper business growth, development and job creation in the Western Cape.
It's something that is said often, but it bears repeating: it is never too early or too late to start saving. Whatever your situation, you should be spending what is left after saving, not saving what is left after spending.
Over or Under Insured In the insurance industry there are two situations you might find yourself in: being Over Insured or Under Insured. Let us have a look at the two definitions: Over Insured: When an individual has coverage for more than the value of items insured. Under Insured: When an individual has coverage for less than the value of items insured.
CGT – Capital gains tax brings South Africa one step closer to first world countries Introducing the capital gains tax on the 1st October 2001 the government of South Africa had the aims of widening the tax net, closing loopholes in the existing tax system and bringing their own standards towards those in first world countries such as USA, Canada and UK. Who is now affected by this law? All South African residents as well as non-residents making profits or losses by selling a property located in South Africa become liable for the payment of capital gains tax (CGT).