Consequences of non-compliance with director duties
What is a director? In terms of the Companies Act No. 71 of 2008 (“the Companies Act”), a “director” means a member of the board of a company (“the Board”), as contemplated in section 66 of the Companies Act, or an alternate director of a company and includes any person occupying the position of a […]
Foreword
Misinformation is probably one of the most used words in recent months and it seems that even our “AI” or artificial intelligence compatriots are struggling to separate fact from fiction. With that in mind, we’ve opted to keep this foreword human-authored, grounded in real-world insights and experiences. One key theme that continues to stand out […]
ASL Wellness: Prioritising health, growth & balance
Employee wellness remains a top priority for organisations seeking to improve productivity, morale, and overall workplace satisfaction. These programs extend beyond traditional health benefits, focusing on holistic well-being – including physical, mental, and emotional health. At ASL, we are committed to investing in the well-being of our employees through initiatives that promote physical and mental […]
Ensure you never miss an important e-mail from ASL
To ensure you continue receiving important updates, reports, and communications from ASL, we kindly request that you whitelist our domain (asl.co.za) in your e-mail settings. This will help prevent our e-mails from being marked as spam or ending up in your junk folder. How to Whitelist Our Domain: For Gmail Users: Open an e-mail from […]
Product Spotlight: An Emerging ERP-system | Meshed360
Many small and medium-sized enterprises (SMEs) struggle to find an ERP system that is both cost-effective and robust enough to support their growing operations. Existing solutions often lack seamless integration with Xero accounting software or come with a hefty price tag. Recognizing this, Meshed360 has emerged as a comprehensive Enterprise Resource Planning (ERP) solution that […]
Navigating the Approved International Transfer (AIT) process: Key insights
The Approved International Transfer (AIT) process is the required mechanism for both resident and non-resident individuals seeking approval to externalise funds abroad. As this process remains central to cross-border fund transfers, we take the opportunity to recap the key aspects of AIT and the approach taxpayers should take when submitting an application. Key features of […]
Amendments in terms of the Companies Amendment Acts, 2024
Effective 27 December 2024, certain parts of the Companies Amendment Act 16 of 2024, and the full Companies Second Amendment Act 17 of 2024 have come into effect. Some of the most salient amendments that now apply to all companies are summarised below: Annual General Meetings (AGMs): Public companies and state-owned companies must include a […]
2025 Budget speech – key tax and policy announcements
On 12 March 2025, Finance Minister Enoch Godongwana delivered the much-anticipated 2025 Budget Speech following an unprecedented delay. The speech, originally scheduled for 19 February, was postponed due to disagreements within the Government of National Unity (GNU) regarding proposed tax increases, particularly a potential VAT hike from 15% to 17%. Ultimately, the Treasury opted for […]
Foreword
As we navigate the dynamic landscape of 2025, South Africa finds itself at a crucial juncture, with several key issues influencing the business environment. From the ongoing deliberations within the Government of National Unity surrounding the national budget to shifts in the country’s fiscal policy, these developments are shaping the financial and corporate landscape in […]
IT3(t) declarations: What you need to know
The South African Revenue Service (SARS) has introduced the new IT3(t) submission requirements as part of its ongoing efforts to enhance transparency and improve tax compliance, particularly within the trust environment. These requirements are designed to address gaps in the reporting of certain financial information, especially those related to distributions to beneficiaries. What is IT3(t) […]