Walkers Attorneys

Investing Offshore Seminar
including Foreign Assets and Tax Amnesty,
Where: Conference Centre, Town House Hotel,
When: 13th October 2010, 7 to 9am (breakfast included)
Cost: R250.00 per person
Speakers: Guy Antonier, Walkers Financial Services, Denis Lloyd and Andrew Duncan, Walkers Private Clients.
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Full details on the present VDP, - Tax and foreign Assets Amnesty/voluntary Disclosure Programme.

In our February 2010 Newsletter I referred to the provisions that would allow transfer of residences from a Trust or a Company or CC, Transfer Duty free, and with a roll-over of Capital Gains to the person taking transfer.

by Renier Kriek

A draft bill, to be known as the Companies Amendment Bill, was published for comment by the dti on 19 July 2010. According to the preamble of the Bill, it seeks to address significant errors, grammatical problems ambiguities and other issues in the Companies Act, 71 of 2008 (the New Companies Act). The Bill further seeks to better provide for the administration of the Act.

by Charl Theron

In Roman times, now more than 2,000 years ago, the superintendents of the markets, called the aediles curules, laid down specific Laws of buying and selling, which still apply today. It stated that if a Seller sells something, he by implication gives a warranty against latent defects in the thing so sold. Very basically, a latent defect is a defect that could not be reasonably detected by the Purchaser at the date of sale and also the Seller would not be aware of. The Seller was under obligation to disclose any defect known to him to the Purchaser.