Usufruct, usus and habitatio are personal servitudes. These servitudes are sometimes considered as an estate planning tool to reduce estate duty, but testators don’t always realise what this entails and the burden it could place on the heirs. What is
The rights of commissioning parents in a surrogacy agreement to maternity leave
Alex refers a dispute to the CCMA on the basis of unfair discrimination, because his company refused to grant his application for maternity leave due to the fact that he is not the biological mother of his child. They further
Selling of assets by individuals: When will it attract CGT?
Individuals who are residents for the purpose of the Income Tax Act, 58 of 1962, are liable for CGT (capital gains tax) on the disposal of South African and foreign assets. In addition, non-residents who dispose of immovable property in
Financial assistance by companies to issue shares
Section 38 of the Companies Act, 61 of 1973 (now repealed) contained a prohibition against companies issuing shares to prospective shareholders on loan account. This was identified as one of the hurdles in the way of BEE empowerment deals specifically
The risks of and remedies against the transferring of assets out of a financial distressed entity
With the current economic turmoil and more entities being under severe financial distress, business owners are all considering how to restructure in order to have a streamline enterprise in terms of both operational and cash flow models. One of the