bdk Auditors know how to do our homework!

Posted on 14 of March, 2019 by in Financial

When we take on new clients, research forms an integral part of the audit process. In order to develop an ideal audit strategy and audit plan for our new clients, we conduct thorough research to gain knowledge of matters affecting the industry in which the company operates in, matters relating to the company’s business, the […]

Impermissible exchange control “loop structures”

Many people or companies with offshore activities will be aware of the existence of exchange controls imposed by the South African Reserve Bank and monitored by its Financial Surveillance Department. Yet despite being aware of its existence, many do not appreciate what transactions are permissible and what would constitute a contravention of the exchange control regulations. […]

Salary sacrifice schemes – latest judgment by the supreme court of appeal

Salary sacrifice schemes are popular in practice. Typically, they involve employers paying a decreased salary to their employees, with an added fringe benefit to make up for the lost ‘cost to company’ sacrificed by the employee to obtain the benefit. For example, an employee may prefer to enter into a salary sacrifice with his/her employer […]

How to manage your debt

Posted on 16 of August, 2016 by in Financial

Alecia had big financial problems; she had too much debt and her expenses outweighed her income. She decided to open a new bank account into which her salary could be paid, which would ensure that she could manage her salary before her monthly debit orders went off. Alecia thought it would be a good idea […]

Application for a loan

Posted on 16 of August, 2016 by in Financial

Entrepreneurs of small enterprises may find it difficult to obtain funding to start their business. You can try the bank, but that can be a real challenge. If you know where to look, new avenues can open up which might be worth pursuing. Stephen Sheinbaum, founder and CEO of Merchant Cash & Capital, believes that […]

So what is gap cover all about

Posted on 25 of April, 2016 by in Financial

Something that is a frequent question by consumers is “Why did my medical aid not cover the full cost of my hospitalization?” Thinking they were covered for 100% of all the hospitalization costs. Medical aid can be a minefield for the regular Jane out there, who is just looking for the peace of mind that […]

Financial assistance and the Companies Act

Posted on 25 of April, 2016 by in Financial

One of the more significant changes that the “new” Companies Act, 71 of 2008, brought about was that a company may now provide financial assistance to prospective shareholders to subscribe for shares in that company. In other words, it may lend persons money to enable them to subscribe for shares in the lender (although other […]

Financial assistance by companies to issue shares

Posted on 23 of March, 2016 by in Financial

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 (which quite often involves BEE participants requiring funding to be able to subscribe for shares […]

Finansiële risikobestuur vir u klein besigheid: Weet u wat om te doen?

Is dit werklik nodig om te weet hoe om finansiële risiko te bestuur? Die antwoord is ‘n besliste “Ja!” Dit kan die verskil beteken tussen ‘n suksesvolle besigheid en ‘n besigheid wat gedwing word om sy deure te sluit. Maak seker dat u u besigheid die beste moontlike kans gee om te oorleef en te […]

Incentivising non-retirement savings in South Africa through Tax free savings accounts

National Treasury introduced the Tax free savings account and these accounts have been available since 1 March 2015, available through a variety of providers. These accounts are intended for discretionary non-retirement savings and have certain distinct features which should make them very appealing to investors. Even though the intention is that they will be used […]