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CIPC have a website called BizPortal which is intended for people who wish to register their own company. It is not intended for the likes of us who register companies for other people. They’ve tried to make it simple and we know of a few people who have navigated their way through the process, but most people give up and take the easy way out by contacting us. Those who succeed in registering their own company often end up paying more for the finished article because they have no idea what a share register is all about, nor what…

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With the change in company tax rate from 28% to 27%, the question again arises whether to pay yourself in salary or in dividends. Salary is straightforward, but you need to bear in mind the additional cost of monthly payroll services. This totals about R14 000 per year, or R10 500 net of tax. The total annual cost in tax and payroll services for a sole director/shareholder who earns R2m gross is R760 191 and the net salary is R1 250 321 If no salary is drawn, but the R1 250 321 is lent to the director in…

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I get numerous WhatApps like these – Hi can you assist to register a constraction canpony or where is the best place to go? Evening i should like to register my company how do I do to go through? Hello hoeveel om te registration Hi my name is Tebogo john M I need ck what r Way’s to follow How do you hep people start a business I wannna know wt ur campany do you can help me by receiving ck certficate Hi ineed to start the business Am will to registere a business Let’s start by acknowledging that this…

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For me, a day without a meeting is like a day without sunshine. I love to help people with their businesses, their marketing, their plans to form a trust and anything else they want to talk about. I have currently had 82 Google reviews, all but 2 of them are 5 star and those 2 were 4 star. Why? Because I care. Booking a meeting is as simple as clicking on the link on our home page, or you can click here. The link takes you directly to my diary, where you will see that I am available…

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After the most testing four years of my life, I qualified as a CA(SA) and Registered Auditor at the age of 54. Now, many years later, I have resigned the auditor part. Why? Well, firstly, engineers are not born to tick boxes and, by golly, that’s what auditing is all about. The modern standards focus so heavily on procedural issues and reporting that I found that they missed the point entirely. In an entrepreneurial environment, a true professional could sniff out malfeasance that no amount of box ticking would uncover. Secondly, under the new Companies Act of 2008, very few…

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As many of you know, we are nomads. We rent penthouse style and move about once a year. The first two moves were with Biddulphs and they went smoothly and efficiently. The packers came in, wrapped, packed and loaded our belongings, and delivered them to our new apartment all without fuss or bother on our part. Then came the third move. Ouch! Helen’s jewelry was stolen and every small box that might contain something of value was opened, like the empty cellphone boxes that we all keep when we upgrade. When we phoned Biddulphs to advise them that some of…

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No-one in the company has more interest in making it succeed than you, so it’s your energy that makes things happen. Energy is not about huffing and puffing, scrambling around putting out fires, yelling on the phone at delinquent suppliers. No. Energy is so much more subtle, and so much more powerful. The Asian nations understand this so much better then us Westerners. They call it Chi, Qi or Ki and they treat it with the utmost respect. The arts of kung-fu, Reiki, chi-gung, karate, acupuncture, yoga, tai chi, feng shui, all rely on the control and channeling of this…

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Call me stupid, but I think that Debt to GDP is a meaningless measure of our ability to repay borrowings. Why? Because it’s quite possible for a country to have a massive GDP and be unable to pay foreign debts and equally, a country could have a relatively small GDP and be able to comfortably repay them. In order to understand this, we need to look at what GDP is. In a nutshell it’s total production of goods and services, including trade surplus or deficit. So, let’s say that a country had a GDP (like South Africa) of $350bn a…

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We often get enquiries from non-residents who wish to form a company in South Africa. Much of it is pretty straightforward, but there are a few special considerations. Anybody, or any company, anywhere, may be a shareholder, or even the only shareholder, of a South African company. Anybody, anywhere, may be a Director, or even the only Director, of a South African company. The Registered Office of the company must be at a South African street address. We offer our offices for this purpose. However, if the company wishes to open a bank account, then it must be opened by…

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I thought I was savvy about scams and would never get caught. But when my cell phone was stolen I learned a big lesson. I had my banking app on the phone, but always had to tap in my PIN, so I figured that was safe. I had internet banking on my desktop and had remembered the banking password to Google Chrome, but that was OK because the desktop is password protected. So, my cell phone was stolen and the thief, presumably having seen the Standard Bank app icon, Googled standardbank.co.za, must have found my email address somewhere else on…

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The easy one to understand is the Income Statement. This starts at the top with your sales, or what you like to call your sales. Me? I don’t think you’ve made a sale until the money is in the bank! But more of that later.

Then there might be an item called Cost of Sales, or Cost of Goods Sold. This is the total of all of the direct costs incorporated in the thing that you sold, so it would include, for instance, raw materials, transport of stock into your stores, consumables like paint, packaging, etc. Cost of Sales is then deducted from sales and the result is called Gross Profit. In a nutshell, this is the difference between what your stuff cost and what you sold it for, your markup, in other words.

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So, what can I do if my company has been de-registered at CIPC? You and many others are asking this question after CIPC hit the Final De-registration button in August 2020. There are 3 possibilities Your company was not demonstrably trading and did not own fixed property at the time of de-registration – You are out of luck. It does not qualify to be restored. Your company was not demonstrably trading, but did own fixed property at the time of de-registration – it can be restored, but the process is arduous and lengthy. You can demonstrate,…

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Shareholders and directors commonly draw money from their company without paying PAYE. Their bookkeeper will debit their loan account and these loans typically grow over time to quite significant amounts. When you owe money to your company, you should be charged interest at least at the official rate (which is 1% above the Repo Rate). This interest needs only to be a book entry – Debit Loan Account, Credit Interest Received, and the entry should ideally be done monthly. However, to simplify things, the bookkeeper could be instructed to charge interest on the year end balance at the year end…

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I always figured that Search Engine Optimisation (SEO) was a waste of the R60 000 to R100 000 that the specialists wanted to charge. Surely not everyone can be on the front page of a Google search? Take a typical search. It comes up with 6 adverts and 10 articles. If you want to be one of the ads, learn how to use Google Ads. Google offers excellent free training. Alternatively, pay someone to do the job for you. If you want yours to be one of the 10 articles, then you need a brilliant SEO campaign, and no amount…

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Once your company is in de-registration process at CIPC, the bank won’t help you with any facilities, your tenders won’t be accepted and life ain’t gonna be fun!

How did that happen? Quite simply, you didn’t submit your annual returns to CIPC, either because you didn’t respond to our email reminding you that the return was due, or, we are not your service provider.

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Most South Africans are married either under an anti-nuptial contract (ANC) with accrual or a traditional marriage. The latter is marriage in community of property which means that there is only one estate and this is owned equally by the spouses. Under an ANC with accrual, what each spouse brings into the marriage remains theirs. There are then two separate estates which increase in value equally after marriage. However, there are certain increases which do not get shared – 1) Distributions from trusts or deceased estates, donations from third parties. 2) Damage awards from slander or defamation type of…

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We form and sell shelf companies, so I guess that it is not surprising that we occasionally get a call from someone who wants to sell their dormant company to us. The answer is always “No”. Why? Because we do not know for certain that the company was always dormant. It could have some nasty skeletons in the cupboard. Sure, we can check on its tax and CIPC status, but that’s about all. Companies are often asked to sign surety against a dept of the shareholder and that is the scarey one because it would be impossible to trace.

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I have always held that a Non Government Organisation (NGO) is simply an organisation which is governed by a Constitution as opposed to a Non Profit Company (NPC) which is governed by a Memorandum of Incorporation. I would state categorically, that a NPC is registered at CIPC, but that an NGO is not registered. They can both, however, register as a Non Profit Organisation (NPO) with the Department of Social Development. We own Gallagher Combined School NPC and it is registered as a NPO, so I was speaking with some experience. Then along came a client…

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There are a number of reasons for buying a shelf company that is already VAT registered. 1) SARS makes it extremely difficult to register a company for VAT. Only professionals like ourselves find it relatively straightforward, but even so, a lot of paperwork has to be provided by the client. 2) If you are buying a commercial property, you simply must be registered for VAT in order to buy it as a going concern and have the transaction zero rated. Otherwise, you will have to pay the VAT and then claim it back and wait, and wait ……. for your…

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