On 25 October 2023, the Gauteng Division of the High Court of South Africa in the matter between Van Wyk & Others v The Minister of Employment and Labour delivered a judgment which may, for the interim, abolish maternity leave as provided for in the Basic Conditions of Employment Act 75 of 1997 (BCEA). The judgment follows an application where it was alleged that sections 25, 25A, 25B, and 25C of the BCEA are unconstitutional.
Continue readingThe Constitutional Court decision that is attracting much attention concerns the matter of EB (born S) v ER (born B) and Others and KG v Minister of Home Affairs and Others. The decision is of particular interest to couples who married on or after 1 November 1984 and entered into an antenuptial contract by which community of property, community of profit and loss, and accrual sharing were excluded.
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On 15 November 2022, the South African Revenue Service announced its intention to withdraw Practice Note 31 titled ‘Interest paid on moneys borrowed’. In the announcement, SARS stated that changes could be made in the tax legislation to accommodate legitimate transactions affected by the withdrawal.
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Tax should not be an afterthought in major infrastructure projects across Sub-Saharan Africa. Apart from the possible consequences of having to deal with disputes with the tax authorities, contractors could find themselves working for losses.
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Despite the Financial Sector Conduct Authority’s (FSCA) declaration and regulation of crypto assets as a financial product in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS) late last year, the Financial Surveillance Department (FinSurv) of the South African Reserve Bank (SARB) has still not shared its position regarding crypto assets.
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When traditional forms of security for construction projects are not available to cover the risk of contractor default, failure to pay or insolvency, employers may opt for alternative security measures. One form of security is special notarial bonds (SNBs).
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