News & Resources

My company recently bought products from a local store. They sent the invoice, but the invoice details and VAT number was incorrect and we asked them to correct it as our bookkeeper said we can’t pay until a correct invoice was received. In the meantime we now see that the store started posting comments on Facebook saying our business was bankrupt and that we don’t pay our accounts and people should stay away from us. I contacted the store to remove the posts, but they refused and said they would only do so when we paid their account. Surely this is completely unacceptable conduct! What can we do?

I have two accounts with the same bank. I am in arrears on my home loan payments but will be receiving money into my savings account. It’s not my money, but money from my sister that I must use to help arrange for her wedding and expenses. I’m just worried that the bank will see the money and then take it to settle my arrears on my home loan. Can they do this?

I’m the only shareholder in my company, a cleaning products business. I have two directors who run the business for me. I’ve been building up the business over the years with a view to selling it as my retirement plan. However, the auditors have just informed me that the shares, in my mind worth about R10 million are now worth no more than about R3 million because of reckless management by the directors, selling of assets and even falsifying financial information and accounts. The nest egg I’ve been building is now nearly worthless because of their conduct. Can I recover what my company is worth less from them?

My wife is pregnant with our first child and I am considering whether to set up a family trust for estate planning purposes. Lately however I have read negative commentary about using trusts, particularly anti-avoidance tax legislation aimed at trusts. I don’t want to start a family trust if it’s not going to be beneficial. What advice do you have in this regard?

From our recent BEE verification I’ve come to understand that demographics have quite a role to play when it comes to your planning for a good BEE scorecard. However, I’m not quite sure exactly where it comes into play and how you need to plan for this. Can you shed some light on how I must consider demographics in our BEE planning?

We recently interviewed a software engineer for a position at our company. In the interview it came to light that the engineer had just left the employ of one of our main competitors and that he was bound by a restraint of trade in terms of his previous employment agreement with the company. We really want to appoint him because of his skills but are wary of the restraint. Is there any way around this?

I understand that recent BEE amendments now make provision for bursaries to be recognised under skills development. Our company has a bursary programme through which we give two bursaries a year to students. We haven’t in the past been able to recognise these bursaries for skills development purposes. It sounds like this may have changed now? Will we now be able to?

We are four friends that started our own company a few years ago with each of us being equal shareholders. We are thankful that is has been going well with the business, but now that there is some money and equity in our company, we were wondering what would happen in the event that one of us passed away.

I’m an amateur photographer and have been toying with getting a drone to take aerial photos with. I’m not sure though if I need a license to use a drone and whether I’m allowed to take photos with a drone. What are the current rules about using a drone?

Myself and other co-workers have not received any salary for the last three months. Our employer has informed us salaries will not be paid as a moratorium has been placed on the company because it is under business rescue. Surely our employment rights are being infringed. Can we not take the employer to the CCMA to force the employer to have to pay our salaries?

My brother, sister and I are the directors of our family company. My brother has never been one to live frugally and is continually spending the company’s funds and using company property for his personal benefit. It’s gotten so bad lately that we may lose the company if my sister and I don’t put a stop to it. We’ve discussed it with him, but all he says is that he is also a director and entitled to do what he is doing. What can we do to stop him?

I’m an investor in cryptocurrencies and have found these to be an exciting addition to my investment portfolio. However, I understand that there are new tax regulations that will affect cryptocurrency. What should I be aware of in this regard?