Under the amended legislative framework, members of a close corporation are now required to prepare annual financial statements (AFS) within six months after the financial year-end. This timeline was shortened from the previous nine-month period due to the incorporation of relevant provisions from the Companies Act into the Close Corporations Act 69 of 1984. Section […]
Navigating the rules and regulations for short-term letting. With short-term letting and (more specifically) Airbnbs ramping up in South Africa, disgruntled owners and tenants are voicing their concerns when it comes to short-term letting properties contained in complexes, estates, and apartment blocks. While freehold property owners can act freely, sectional title property owners are bound
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When one thinks of a will, the first thing that comes to mind is probably a last will and testament. This type of will expresses a person’s wishes after they have died. However, a living will, despite sharing some similarities with a last will and testament, is not the same thing. It can be described
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The Trust Property Control Act, a key piece of legislation governing South Africa’s trusts, recently underwent a substantial transformation with the passage of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act. This regulatory overhaul was aimed at strengthening the country’s trust governance, a direct response to its greylisting status, and has significant
