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January 2019

Dear Client / Geagte Kliënt


Newsletter
 
 


Public Benefit Organisations


Ons wil graag ons kliënte, u die leser, ons personeel en al ons sakevriende en kennisse net  die beste toewens vir 2019.

We trust that 2019 will despite all the doom saying turn out to be an exceptional good one and that your business targets will not only be reached but surpassed.

Ek is vanoggend deur ‘n vriend gekontak met die vraag of ‘n maatskappy wat hulle wil oprig om gemeenskapdiens te verrig en as ‘n nie-winsgedrewe maatskappy opgerig is, steeds as belastingbetaler moet registreer en besluit toe om bietjie daaroor in die nuusbrief uit te brei.

The answer is that the company absolutely has to do so. The mere incorporation of a non-profit company in no way qualifies any non-profit company for any particular treatment in terms of the Income Tax Act 1962, or any other legislation, unless such legislation pertinently provides otherwise. A non-profit company may of course apply to the South African Revenue Service for a tax-exempt status, known as Public Benefit Organisation (PBO) status. 

Indien die maatskappy kwalifiseer en aldus as PBO geregistreer word, sal dit die maatskappy in staat stel om voordeel te trek uit belastingvoordele wat sy belastinglas waarskynlik aansienlik sal verminder en ook help om ander voordele te verkry. Indien geregistreer as 'n PBO kan skenkings aan daardie nie-winsgedrewe maatskappy afgetrek word van die skenker se belastingaanspreeklikheid ingevolge artikel 18 van die Inkomstebelastingwet.



Whilst we are on the subject of PBO’s it is probably appropriate to provide some additional information regarding non-profit companies.
  1. 'n Nie-winsgedrewe  maatskappy is 'n maatskappy wat vir een of meer doelstelling geïnkorporeer is, wat gerig is op openbare voordeel of wat verband hou met kulturele of sosiale aktiwiteite, gemeenskap- of groepbelange.

  2. The name of the non-profit company must end with the expression “NPC” (e.g. Good Deeds NPC) and not the more widely known PTY LTD or LTD.

  3. 'n Nie-winsgerigte maatskappy mag met of sonder lede geïnkorporeer word, maar moet egter ten minste drie direkteure hê. Die indiwidue wat om inkorporasie aansoek doen is die eerste direkteure (en lede van die nie-winsgedrewe maatskappy, indien dit lede het).

  4. A non-profit company is recognised as a legal entity separately from its members.

  5. 'n Maatskappy se grondwetlike dokument staan bekend as sy akte van oprigting (MOI) en enige bepaling daarin is nietig tot die mate waarin dit teenstrydig is met die Maatskappyewet . Die MOI van 'n maatskappy sonder winsoogmerk moet ten minste een sodanige doelstelling duidelik daarin uiteensit.

  6. A non-profit company must apply all of its assets and income to advance its non-profit objects. It may not dispose of any of its assets or business to a profit company, except for fair value, unless the disposition occurs in the ordinary course of the activities of the NPC. The assets and income may not be distributed to the incorporators, members, directors or officers of a non-profit company, except as reasonable compensation for the services rendered by them.

  7. 'n Nie-winsgedrewe maatskappy mag aandele in 'n gewone wins-gerigte maatskappy hou, maar mag nooit daarmee saamsmelt nie en mag ook nie omgeskakel word in 'n wins-gerigte maatskappy nie.

  8. A non-profit company may register with the Department of Social Welfare as a non-profit organisation (NPO) in terms of the Non-Profit Organisations Act 1997 in order to apply for government funding or to obtain a fund-raising number.

  9. Ten slotte moet elke  nie-winsgerigte maatskappy voldoen aan die deurlopende administratiewe vereistes soos uiteengesit in die Maatskappyewet, insluitend die indiening van jaarlikse opgawes by CPIC asook met betrekking tot die Wet op NPO’s, wat jaarlikse verslagdoening insluit.
Sou u meer oor hierdie of enige ander aspek rakende maatskappye en die wetgewing daar rondom wil weet is u welkom om enige van ons praktisyns te skakel.

We trust the above information was of some value.

Groete / Greetings

Hennie & Eberhard 
 
|  Directors


 
 
 
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Dealing With Financial Disputes In Community Schemes (Part One)
Danny van Zyl, associate attorney at Van Zyl Kruger Inc, was recently awarded his Master of Laws Degree from the University of Stellenbosch and wrote his thesis on the Community Schemes Ombud Service Act 9 of 2011. He shares certain aspects of his thesis with us in a series of articles to be featured in the next few newsletters.
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Vaderskapverlof en Minimumlone – Hoe Gaan die Nuwe Wette Jou Beïnvloed?  
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Beide werkgewers en werknemers moet seker maak dat hulle op hoogte is met die nuutste arbeidswetgewing wat elke besigheid en individu op ‘n manier gaan beïnvloed.

Ons kyk eerstens na die nuwe bepalings ten opsigte van “ouerskapsverlof”, wat betrekking het op vaders, aannemende ouers en ook opdraggewende ouers in surrogaat-moederskapsooreenkomste.

Ons kyk ook na die nuwe Nasionale Minimumloon en na die voorgeskrewe lone wat op die verskillende kategorieë werknemers van toepassing is.

Laastens bespreek ons die nuwe bepalings ten opsigte van stakings, uitsluitings en wettige vorms van betogings en linievorming (die wet praat van betooglinievorming).
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Beware the Building Deadlines When Buying-to-Build
Buying into a residential estate can be a great way of acquiring a safe and secure “dream home” for you and your family. Choose wisely and you also gain a valuable asset.

You can either buy an existing house in the estate or you can buy a vacant stand on a “plot-and-plan” or “buy-to-build” basis. The latter gives you both added flexibility and (again, if you choose wisely) greater value.

Just be aware upfront of the building clause in your contract – be sure that you will be able to develop your plot by whatever deadline is imposed on you. A recent High Court decision illustrates the risk and the financial cost of not complying.
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Eiendomsontwikkelaars, Wees op jul Hoede: Geagte Toevallings Kan Ernstige Gevolge vir Jou Kontantvloei Hê  
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Alhoewel eiendomsontwikkeling ‘n winsgewende besigheid kan wees, is daar ook aansienlike risiko’s hieraan verbonde. Een daarvan is kontantvloeiprobleme – indien jou vooruitskattings nie akkuraat is nie, kan jy jouself in ‘n ernstige finansiële verknorsing bevind.

Dit is daarom belangrik om bewus te wees van ‘n onlangse uitspraak van die Appèlhof waar SARS ‘n inkomstebelasting-aanslag van R1,9 miljoen aan ‘n ontwikkelaar uitgereik het. Die ontwikkelaar het die erwe in een belastingjaar verkoop, maar hy is eers die volgende jaar met die oordrag van die eiendomme betaal. Was dit toelaatbaar om die inkomste eers in die tweede belastingjaar te verklaar?

Die Hof se beslissling hou ernstige kontantvloei gevolge in vir ontwikkelaars wat hulle in ‘n soortgelyke situasie bevind.
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Victims of Corruption Take Heart – “Big Chief” Gets 15 Years Behind Bars
Corruption hurts us all in both our business and our private lives. Even those of us who aren’t the direct victims of tender fraud or bribery requests lose out from the general loss of confidence and investment in the country.

So we can all take heart from two recent Supreme Court of Appeal decisions relating to corrupt politicians and businesses in the Northern Cape. In the first case, long “minimum sentence” terms of direct imprisonment were confirmed, and in the second the deceased estate of another politician who died during the course of her criminal trial was ordered to pay over her ill-gotten proceeds to the state. 

Read on for the details…
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 Our Directors
             
       
    Hennie van Zyl
DIRECTOR
021 180 4551 / 083 250 9501
hvanzyl@vzk.co.za
      Eberhard Kruger
DIRECTOR
021 180 4552 / 082 789 1706
ekruger@vzk.co.za
      Cheryl-Anne Ehrenreich
DIRECTOR
021 180 4564 / 082 783 7242
cheryl@vzk.co.za
   
     Full Bio →

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© LawDotNews & Van Zyl Kruger Inc. This newsletter is a general information sheet and should not be used or relied on as legal advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice.

VAN ZYL KRUGER INCORPORATED (REG. NO 2015/174073/21) (VAT NUMBER 413 0273 172)


www.vzk.co.za

Suite A4-2, Avanti Building, South Block,
cnr Carl Cronje Drive & Bill Bezuidenhout Avenue, Bellville, Cape Town

info@vzk.co.za | Reception: 021 180 4550 | Fax: 021 180 4540


DIRECTORS: H L VAN ZYL (B.PROC); E S KRUGER (B.COMM LL.B MPRE); C A EHRENREICH (BA.LL.B LL.M)
ASSOCIATES: S JANSE VAN RENSBURG (B.COM LL.B); LI CHANTLER(B COMM LLB); D VAN ZYL (LL.B LL.M);
M VAN DEN HEEVER (LL.B); A BARNARD (B.COM LL.B DIP.FINPLANNING).
PRACTICE MANAGER: F BRAVENBOER (NDIP FIS).
CONSULTANT: J A L VAN ZYL (B.JURIS LL.B); C I’ANSON-SPARKS Solicitor in England and Wales (LL.B(HONS), DIP LEGAL PRACTICE)