“This case yet again demonstrates the need to be careful when dealing with a trust” (extract from judgment below)
For most of us, business dealings with trusts are most likely to happen when selling a property to, or buying a property from, a trust. But no matter why or how it happens, have your lawyer check that whoever signs for the trust is fully authorised to do so.
“This case yet again demonstrates the need to be careful when dealing with a trust” (extract from judgment below)
For most of us, business dealings with trusts are most likely to happen when selling a property to, or buying a property from, a trust. But no matter why or how it happens, have your lawyer check that whoever signs for the trust is fully authorised to do so.
“The notion that there are any safe places to hide money is a thing of the past” (U.S. tax attorney Mark Matthews)
The Panama leaks, last year’s HSBC leaks, and OECD’s “Automatic Exchange of Information initiative” all suggest that SA residents with accounts and investments in foreign tax jurisdictions should ensure that they are fully compliant with all their local and international tax and exchange control obligations.
They are easy to fall for, with not only desperate pensioners and low-wage earners but also Captains of Industry and many otherwise-savvy investors regularly tricked into “investing” in them. The reason of course is that the con artists behind these schemes are adept at hiding their true nature, coming up like clockwork with ever more creative cover stories to lure the unwary. Very popular are “Ponzi” schemes, where the masterminds behind them promise to do everything for you – all you need do is “invest”, then sit back and reap the profits.
If you employ anyone (domestic workers excluded) you must be registered with the Compensation Fund in terms of COIDA (the Compensation for Occupational Injuries and Diseases Act). COIDA provides for compensation for employees injured, disabled or killed by a workplace accident or work-related disease.
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Smith Bekwa Incorporated Attorneys
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Ferndale, Johannesburg
