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  • SARS | CORP
    the spouse will inherit the entire estate If however the deceased does not have a spouse at the time of his death but has children the children will inherit the entire estate in equal share via What happens if I die without a will Lexology Make sure all your registrations are up to date before you die Register Posted in Entrepreneur Respect SARS Tax Tagged death intestate will Leave a reply Donations Tax and CGT Posted on 8 July 2011 by admin Reply Accordingly if the taxpayer renounced a right for the benefit of a third party for no consideration it will be difficult for the taxpayer to discharge the onus that he did not have an intention of generosity or liberality As a result the taxpayer will in all likelihood be liable for donations tax which is levied at 20 It should however be noted that if the taxpayer does not settle the donations tax liability the South African Revenue Service can hold the done personally liable and recover the outstanding donations tax from such a person CGT implications In addition to the abovementioned donations tax implications the taxpayer needs to establish whether the transaction has any CGT implications In terms of the Eighth Schedule to the Act a capital gain arises when the proceeds received on the disposal of an asset is greater than the base cost of the asset The meaning of an asset for purposes of the Eighth Schedule to the Act is defined widely and includes property of whatever nature whether movable or immovable corporeal or incorporeal excluding any currency but including any coin made mainly from gold or platinum as well as a right or interest of whatever nature to or in such property The meaning of a disposal on the other hand specifically provides for the inclusion of the waiver or the renunciation of a right The renunciation of the right by the taxpayer would constitute a disposal of a capital asset and the taxpayer will be liable for CGT on the difference between the proceeds received and the base cost of the right If the taxpayer waived the right for no consideration the proceeds would be nil However in terms of paragraph 38 1 a of the Eighth Schedule where a person disposes of an asset by means of a donation or for a consideration not measurable in money or to a connected person for a consideration which does not reflect an arm s length price the proceeds will be deemed to be the market value of the asset on the date of the disposal If an asset is disposed of by means of a donation such disposal is deemed to have taken place at market value for CGT purposes and the taxpayer will be liable for CGT on the difference between the market value of the right and the base cost thereof Accordingly unless careful consideration is given to the construction of a transaction the good intentions of a taxpayer can

    Original URL path: http://soleproprietor.corp.co.za/category/sars/ (2015-12-05)
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  • shelf pty | CORP
    number for your business within about 1 hour The final change of directors etc takes about another 3 weeks to do properly For more on Shelf Pty s please email us here ShelfPty corp co za Or visit our secure site to read more and order a Shelf Pty from us Posted in shelf pty Tagged Business cc Proprietary company pty shelf company South Africa Leave a reply Search Recent Posts Sole proprietorship background Government continues to disrupt business Sole Proprietor Quick reference Start a business today 7 Small Business Ideas For 2013 Recent Comments CORP Admin on Company Registration Shelf Company Business Registration Office on Trading as Archives September 2013 August 2013 July 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 June 2012 May 2012 April 2012 March 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 Categories Accounting Angel investors Apartheid Racism Astrid Ludin audit firms banking BCEA Big Business Black Business Branding Business business ideas business tips Cape Town cc Cell C CIPC cipc co za CIPRO Cloud Company Law company registration contract conversion copyright copyright

    Original URL path: http://soleproprietor.corp.co.za/category/shelf-pty/ (2015-12-05)
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  • Tax | CORP
    Despite the horror stories if you die without a Will your assets are not forfeited to the state however the distribution thereof is regulated by statute as opposed to your own directions as you would have set out in your Will The relevant Act that regulates the devolution of your assets should you die without a Will is known as the Intestate Succession Act 81 of 1987 The Act sets out a fixed formula that is applied to determine who inherits your estate and in what proportion The Act is based on excluding benefits to a spouse a system of passing benefits to the blood family of the deceased The general principle being that those family members closest to the deceased in terms of the bloodline stand to inherit first So for example if the deceased is married but does not have children the spouse will inherit the entire estate If however the deceased does not have a spouse at the time of his death but has children the children will inherit the entire estate in equal share via What happens if I die without a will Lexology Make sure all your registrations are up to date before you die Register Posted in Entrepreneur Respect SARS Tax Tagged death intestate will Leave a reply Donations Tax and CGT Posted on 8 July 2011 by admin Reply Accordingly if the taxpayer renounced a right for the benefit of a third party for no consideration it will be difficult for the taxpayer to discharge the onus that he did not have an intention of generosity or liberality As a result the taxpayer will in all likelihood be liable for donations tax which is levied at 20 It should however be noted that if the taxpayer does not settle the donations tax liability the South African Revenue Service can hold the done personally liable and recover the outstanding donations tax from such a person CGT implications In addition to the abovementioned donations tax implications the taxpayer needs to establish whether the transaction has any CGT implications In terms of the Eighth Schedule to the Act a capital gain arises when the proceeds received on the disposal of an asset is greater than the base cost of the asset The meaning of an asset for purposes of the Eighth Schedule to the Act is defined widely and includes property of whatever nature whether movable or immovable corporeal or incorporeal excluding any currency but including any coin made mainly from gold or platinum as well as a right or interest of whatever nature to or in such property The meaning of a disposal on the other hand specifically provides for the inclusion of the waiver or the renunciation of a right The renunciation of the right by the taxpayer would constitute a disposal of a capital asset and the taxpayer will be liable for CGT on the difference between the proceeds received and the base cost of the right If the taxpayer waived the right

    Original URL path: http://soleproprietor.corp.co.za/category/tax/ (2015-12-05)
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  • Tax Returns | CORP
    and business income Posted in Provisional Tax SARS Tax Tax Returns Tagged Accounting Business Joe Black Sole proprietorship Tax Leave a reply SARS employees might abuse their position Posted on 25 June 2011 by admin Reply COLIN WOLFSOHN Look their whole principle of separating and making our ordinary Tax Act simpler without these administrative provisions is very good no question about it We understand where SARS is coming from in terms of cases of genuine crooks or people as we say like an Enron kind of case We are concerned on a practical basis though whether all these provisions because this Act is written in the basis where everything is perfect and we ve seen unfortunately cases in the past where you might have SARS employees who don t interpret these legislations pieces totally accurately and if I can use the wrong wording might abuse their position That kind of situation concerns us but hopefully with proper training of SARS officials that things will improve via What the new Tax Administration Bill covers Tax Moneyweb We have had instances where SARS employees have abused their position and unfairly interpreted the VAT Act to the total and unnecessary disadvantage of the taxpayer Arrogant and unprofessional behaviour like that should never have been allowed to take place It echoes the harshness and intolerance of Apartheid racism Posted in Apartheid Racism Gov Office Professional Provisional Tax Respect SARS Small Business SMME Tax Tax Returns Tagged fine listen tax deduction Leave a reply Tax filing season opens 1 July 2011 Posted on 19 June 2011 by admin Reply The South African Revenue Service SARS has announced that tax return filing season for individuals will start on Friday July 1 and will run until Friday November 25 for taxpayers who use eFiling via Tax filing

    Original URL path: http://soleproprietor.corp.co.za/category/tax-returns/ (2015-12-05)
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  • trading as | CORP
    your bank account unless the trading name is registered For more help on registering a company registering a trade name and on sole proprietorships please click on the relevant link in this sentence Related articles How to register a company in South Africa businessregistrationoffice co za How to register a company in South Africa alberton bizro co za How to register a company in South Africa bellville bizro co za Posted in register a business register a company sole proprietor trading as Tagged Africa Business Embassies and Consulates Government Shelf corporation Sole proprietorship South Africa Trade 1 Reply Search Recent Posts Sole proprietorship background Government continues to disrupt business Sole Proprietor Quick reference Start a business today 7 Small Business Ideas For 2013 Recent Comments CORP Admin on Company Registration Shelf Company Business Registration Office on Trading as Archives September 2013 August 2013 July 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 June 2012 May 2012 April 2012 March 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 Categories Accounting Angel investors Apartheid Racism Astrid Ludin audit firms banking

    Original URL path: http://soleproprietor.corp.co.za/category/trading-as/ (2015-12-05)
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  • Will | CORP
    time The witnesses must also sign the Will although in their case they need merely to sign at the end of the document and not on each page if the document consists of more than one page The witnesses must sign in the presence of each other and the testator For best practice we recommend that the witnesses sign each page as well as at the end of the document We also recommend that all parties sign in full on each page It is not necessary to have an attestation clause or even to date a Will for it to be valid However it is important to date a Will because it makes it easier to determine the sequence if the testator has left behind more than one valid Will and so to ascertain whether it is the Last Will and Testament or whether the document has since been revoked or is revoking another Will The Act determines that via Is my will valid Lexology Related articles How would I change a will after the testator dies if the family agrees to different terms would this need to be done via a solicitor or can it be okay as long as we all sign something wiki answers com The Rationale behind Contesting a Will estatewillstrusts wordpress com Non Traditional Wills lawprofessors typepad com How is something given to someone that is willed to another person when the person is on death bed wiki answers com What does the word trustee mean in a will wiki answers com Importance of writing a Will mathilic wordpress com Posted in Will Tagged Attestation clause Document Document Management Joint wills and mutual wills Opposing Views Testator will Witness Leave a reply Search Recent Posts Sole proprietorship background Government continues to disrupt business Sole Proprietor

    Original URL path: http://soleproprietor.corp.co.za/category/will-2/ (2015-12-05)
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  • Women | CORP
    are female When you go to the banks they do not believe you are capable of doing it Men are the only people who can succeed in running a business We are supposed to be employed or in the kitchen When you come with a business plan to a bank they resist they don t believe it will succeed Eventually a bank agreed to give her a R30000 overdraft They were better than other banks which rejected me altogether They didn t even want to hear my story Mzizana is outraged that institutions the government started with the express purpose of financing small businesses and which are forever trumpeting their achievements in this area showed her the door as quickly as any of the commercial banks These are organisations that claim to be helping women s businesses They are actually not doing that at all That s why there are no women businesses that are successful They open and within one year they ve closed down If you keep going for five years you ve done very well as a woman via Dice loaded against black women in business Business LIVE Related articles Ammunition for your Business Plan tominvestor wordpress com Do You Have a Bag Lady Business Plan blogher com How to Become a Successful Business Woman thinkup waldenu edu Common Mistakes in a Business Plan Competition davidcummings org Weekly Wrap Women Entrepreneurs and the Death of the Like Button myventurepad com Posted in BCEA Black Business Labour Law Small Business SMME Women Tagged Africa Business Business plan Loan Small business Small Business Administration Stellenbosch University University of Pretoria Leave a reply Business in Population Management Posted on 5 August 2011 by admin Reply Global population numbers are on track to reach 7 billion in 2011 just 12 years after reaching 6 billion in 1999 Virtually all of the growth is in developing countries And the growth of the world s youth population ages 15 to 24 is shifting into the poorest of those countries The new Population Reference Bureau s 2009 World Population Data Sheet offers detailed information about country regional and global population patterns In the context of CSR I find it interesting that we talk a lot about the environment and its connections with growth and we discuss at length the use and abuse of natural resources and links to climate change Yet one of the major challenges that businesses could play a role in relates to birth control and population management via A Role for Business in Population Management Use Celsias com Posted in Business Economy Jobs Women Tagged jobs opportunities population sustainability Leave a reply Department of Social Development Posted on 28 July 2011 by admin Reply Vision A caring and integrated system of social development services that facilitates human development and improves the quality of life Mission To enable the poor the vulnerable and the excluded within South African society to secure a better life for themselves in partnership with them and with

    Original URL path: http://soleproprietor.corp.co.za/category/women/ (2015-12-05)
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  • CORP › Log In
    CORP Username Password Remember Me Lost your password Back to CORP

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