Further to our last communication regarding the proposed amalgamation between Topmed and Fedhealth, I am pleased to advise that the intention is to amalgamate with effect 1 August 2019, subject to the relevant authorities’ approval.
An amendment to the SA Income Tax Act becomes effective in March 2020, and has hard-hitting consequences for South Africans working outside SA. It requires that SA tax residents spending more than 183 days abroad (of which 60 days are consecutive) pay SA tax of up to 45% of their foreign employment income once it exceeds R1m per annum.
The inevitable reality of cryptocurrency regulation is gathering pace. With the draft proposal opened to public comment closing last month, the initial steps are in process to bring some formality to this growing and popular asset class.
Questions to consider when running your own business.
Suretyship Protection/ Contingent Liability
•Are you standing surety for loan/debt affected by the business?
•Are you aware of the impact if the loan/debt cannot be repaid?
Loan Account Protection
•Do you have a loan account?
Is the business able to repay the loan account on your death or disability?
Since the Constitutional Court of South Africa decriminalised use and private cultivation of cannabis (dagga) in September last year, there has been much discussion around the personal use of dagga and how it affects a long-term insurance claim.