What You Need to Know About Living Wills.
A living will should be prepared separately from your last will and testament. Your last will and testament only takes effect after your death, while your living will takes effect while you are still alive but incapacitated.
To make a valid living will, you need to follow some basic steps:
- First, you need to decide what kind of medical treatments you want or don’t want in different scenarios, such as terminal illness, permanent unconsciousness, or irreversible brain damage. You can specify whether you want to receive artificial life support, resuscitation, organ donation, tube feeding, pain relief, or palliative care. You can also state whether you want your organs to be used for research or transplantation.
- Second, you need to write down your wishes in a clear and specific way. You can use a standard form or template, or create your own document. You can also consult with your doctor, lawyer, or estate planner for guidance and advice. You should avoid using vague or general terms that may cause confusion or ambiguity.
- Third, you need to sign and date your living will in front of two witnesses who are not related to you by blood or marriage, and who are not beneficiaries of your estate. You should also have your signature notarized by a public notary for extra validity and security
- Fourth, you need to inform your family, friends, doctors, and health care providers about your living will and give them copies of it. You should also keep a copy for yourself in a safe and accessible place. You can also register your living will with a national or state database that can be accessed by medical professionals in case of emergency
A living will is not set in stone. You can change or revoke it at any time, as long as you are mentally competent and follow the same steps as above. You should review your living will periodically and update it if your circumstances or preferences change.
A living will is a powerful and personal document that can help you protect your dignity and autonomy at the end of life. It can also give you peace of mind and comfort knowing that your wishes will be respected and honoured.
Should you require professional advice in this regard to not hesitate to contact our offices for professional advice in this regard.
Directors Role.
Directors do not need to be South African residents or nationals. The Act requires that the register of directors reflects each directors’ nationality and passport number if they are not South African. There are no restrictions on foreign managers.
The role of a director is a challenging one, accompanied by onerous duties and responsibilities. With improving standards of corporate governance, directors are required to be more and more accountable, transparent and responsive to stakeholders and to society. Directors and officers are required to be cognisant of corporate legislation pertaining to their office, and have a duty to ensure that the company complies with all other applicable laws, industry or sector specific legislation. Directors are required to ensure that managers and employees are aware of the legislation, and that all within the company are committed to act honestly, with integrity, and with a high level of competence and knowledge. Adherence to non-binding rules, codes and standards of good corporate governance are considered to be key to the effective management and control of a company. The King IV ™ Report and Code of Corporate Governance is a guideline for best practice and provides the main standard for corporate governance in SA.
The King Report distinguishes between two types of directors:
- Executive Director: A full time salaried employee and under a contract of service with the company who is involved in the daily running of the business
- Non-Executive Director: A part time director who is not an employee of the company and is not involved in the day to day running of the business. A non-executive director is independent from management and can therefore offer objective judgement
Employer Interim Reconciliation starts on 18 September 2023.
Should you require assistance in this regard please do not hesitate to contact our offices for professional assistance.
SARS Digitalisation of Tax Administration.
- The eFiling system, which allows taxpayers to submit their returns and payments online, as well as to access various services and information.
- The e@syFile system, which enables employers to submit their payroll tax returns and payments electronically.
- The eAccounting system, which integrates the accounting records of taxpayers with the SARS systems, reducing the need for manual interventions and audits
- The e-Invoicing system, which enables the issuance and verification of electronic invoices, as well as the tracking of transactions and payments
- The e-Customs system, which facilitates the clearance and inspection of goods at the borders, as well as the collection of customs duties and taxes
- The e-Audit system, which automates the audit process and enhances the risk profiling and selection of taxpayers for audits
- The e-Case Management system, which streamlines the resolution of disputes and appeals between taxpayers and SARS
- Increased convenience, accessibility and transparency for taxpayers
- Reduced costs, errors and delays for both parties
- Improved compliance levels and revenue collection
- Enhanced data quality and analysis
- Cybersecurity threats
- Data protection issues
- Digital divide issues,
- Digital ethics issues
- Implementing robust cybersecurity measures and protocols
- Complying with relevant data protection laws and regulations
- Promoting digital inclusion and literacy
- Ensuring digital responsibility and accountability
Sincerely,
