Moore Stephens News September 2012

Moore Stephens News September 2012

  1. Is your registered office correctly reflected on your company documents?
  2. Tips on annual leave – Some common questions
  3. Tax matters – The 2012 tax season begins!
  4. Tax matters – Earnings threshold increased

1 July 2012

Is your registered office correctly reflected on your company documents?

Based on the new Companies Act and recent case law, a company’s registered address must be the address of an office maintained by the company and not that of a third party (e.g. the auditor’s address).

In Sibakhulu Construction (Pty) Ltd v Wedgewood Village Golf and Country Estate (Pty) Ltd, Judge Binns-Ward found that the registered address must be that of an office maintained by the company. In addition, if a company has many offices, the office where the administrative business of the company is principally conducted will be its principal office, and this must then be reflected as its registered address.

 

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Tips On Annual Leave – Some Common Questions

Does the Basic Conditions of Employment Act (BCEA) apply to all employees in regard to its provisions for annual leave?

No. The provisions for annual leave do not apply to:

workers who work fewer than 24 hours per month and
leave over and above that provided for by the Act. For example, if you grant an employee additional annual leave in excess of the statutory minimum of 21 consecutive days, then all of the provisions in the BCEA will not apply to the period of leave taken over and above the statutory minimum.
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Tax Matters – The 2012 Tax Season Begins!

On 2 July 2012, SARS issued a media release confirming the opening of the 2012 tax season. The deadline dates to take note of are as follows:

tax Season 2012 runs from 1 July 2012 to 31 January 2013,
the deadline for taxpayers who submit their tax returns manually by post or by dropping them off in a SARS drop box, is 28 September 2012,
non-provisional taxpayers who submit their returns via e-Filing have until 23 November 2012 and
provisional taxpayers who submit their returns via e-Filing have until 31 January 2013.
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Tax Matters – Earnings Threshold Increased 1 July 2012

A new earnings threshold was recently announced by SARS. As of 1 July 2012, the threshold will be increased from R172,000 to R183,008 per annum.

WHAT DOES THIS MEAN?

The effect of the increase is that employees who were previously not covered by the Basic Conditions of Employment Act (BCEA) in terms of their working hours, will now be covered. In other words, employees earning above R172 000 but below R183 008 as from 1 July 2012 will have to be compensated for overtime, meal intervals, night work, work on public holidays and Sundays.

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