“The secret of crisis management is not good vs. bad, it’s preventing the bad from getting worse” (Andy Gilman) We can only guess at how the COVID-19 coronavirus outbreak will end, but let’s all take whatever concrete steps we can right now to lessen its impact on our personal lives, on our businesses, and on our country. One of those steps is for businesses to find ways of continuing to operate as normally as possible, given of course the exceptional times we
“The primary remedy therefore is an order for removal of the structure” (extract from the judgment below) What can you do if your neighbour has started (or finished) building without the necessary municipal approvals? In a nutshell, our courts will very probably assist you with a demolition order, as a recent High Court decision around a long-running property encroachment illustrates. The 16 year saga of an encroaching garage A couple, owners of a property next to a church Mission, expanded their house in 2004
“…the default position is that an executive director or a senior employee may not carry on business activities which fall within the scope of his company’s business during the time when he serves as director or works as employee. The default position however changes on resignation.” (Extract from judgment below) What happens if relations between you and your fellow company directors sour to the extent that a director leaves? Can he or she immediately open up a new business in direct
“In our law cohabitation does not have special legal consequences. Generally the proprietary consequences and rights flowing from a marriage are not available to unmarried couples, regardless of the length of their cohabitation” (extract from judgment below) If you live as a couple, avoid the trap of believing the myth of the “common law marriage”. It’s a very persistent myth, possibly because some other countries do indeed give formal recognition to certain forms of life partnership. But not in South Africa –
“Never let a good crisis go to waste” (Winston Churchill) The COVID-19 coronavirus crisis will, like all crises, eventually give way to economic and societal recovery. Even before that inevitable upturn actually sets in, entrepreneurs should remember that times of great risk and challenge are also times of great opportunity. So get your team together now and brainstorm what new needs and new niches you can fill. Witness for example the “remote destination” businesses like game lodges now offering safe and luxurious havens
“To support the property market, the threshold for transfer duties is adjusted” (Finance Minister Tito Mboweni) Transfer Duty Exemption Up Some good news for property sellers and buyers in particular is the increase in the transfer duty exemption to R1m. See the table below for details and note that with all the brackets being adjusted upwards, buyers at every level will save – for example the buyer of a R2.5m house will save R17,000. (Source: National Treasury) Some useful Tax Calculators for
