As from 1 March 2023 a section 18A certificate issued to a charitable donor will have to display additional information. In terms of a Government Gazette notice published on 24 February 2023, the SARS Commissioner has exercised the right under section 18A(2)(a)(vii) of the Income Tax Act to prescribe further requirements for these certificates. The
The prescribed rate of interest is 10.75% per annum with effect from 1 March 2023. The previous rate was 10.5% per annum.
According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts
In an unfortunate, but expected turn of events, global money-laundering and terrorist-financing watchdog – the Financial Action Task Force (FATF) – announced on Friday 24 February that it has added South Africa to its “grey” list – as a jurisdiction under increased monitoring.
What does this mean, how did we get here, and
In this judgment (dealt with here on material non-disclosure) the second material issue dealt with by the court was whether the insured truthfully represented his medical conditions in relation to his continued ability to work.
The insurer alleged that the insured did not tell either the insurer or the examining doctor that he could perform
Big Read Book Series Volume 11
Norton Rose Fulbright South Africa’s Review of South African insurance judgments of 2022 is now out. You can view / download a copy of it HERE.
Big Read Book Volume 11 is a comprehensive review of all the significant South African insurance judgments delivered in 2022.
Volumes 4
In this judgment, the insured had two life policies with the insurer, which included life cover, severe illness benefits, and income continuation benefits.
The insured amended the policies a number of times, but on none of these occasions did the insured disclose that he had been diagnosed with and treated for clinical depression.
The
The Supreme Court of Appeal has reaffirmed some important principles about arbitrations. An arbitrator ‘has the right to be wrong’ on the merits of the case and being wrong does not mean that the arbitrator misconceived the nature of the enquiry. Secondly, an arbitrator only has the powers afforded to them in terms of the
The Minister of Finance, Mr Enoch Godongwana presented his National Budget Speech to the Members of the National Assembly this afternoon. The National Budget Review notes that South Africa is prioritising stable and clear policies so as to promote economic growth in the midst of an uncertain economic outlook. GDP is expected to grow by
In circumstances where an employer fails to take reasonable steps to guard against the inherent dangers to employees in operating machinery on its premises, such entity may find itself liable for the damages sustained by the operator of the machinery. Operators of machinery must be reasonably trained by employers to ensure that they have the
In 2022, in a decision handed down by the KwaZulu Natal High Court, held in Pietermaritzburg it was made clear that the failure by a pension fund to timeously collect arrear pension contributions from recalcitrant employers, will result in the fund not having a claim against the employer where the defence of prescription is raised