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Cecil Kilpin | May 2020 Newsletter

By |2022-01-20T12:28:32+02:00May 30th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

DIRECTOR’S ROLE AMIDST THE COVID 19 PANDEMIC The director’s role has without a doubt become more onerous amidst the Covid-19 pandemic. However, the Companies Act makes provision for operating in a virtual world, which includes, inter alia: A signature or an initial on a document may be made by or on behalf of a person by the use of an electronic signature or an advanced electronic signature. Proxy forms, annual financial statements, prospectuses and annual reports may be lawfully created, signed, retained and sent electronically Meetings of shareholders and directors respectively may be conducted entirely by electronic communication The definition of “present at a meeting” includes a “virtual presence” or representation by electronic proxy   Directors and officers are required to be cognisant of corporate legislation pertaining to their office, and [...]

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Cecil Kilpin | March 2020 Newsletter

By |2022-01-20T12:45:56+02:00Mar 30th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Covid-19 and The Economy   Globally, a once-healthy economic growth outlook has been revised down sharply due to the outbreak and spread of Covid-19. This coronavirus will negatively affect global and domestic economic growth through the first half of 2020, and potentially longer depending on steps taken to limit its spread.     The Covid-19 outbreak will have a major health and social impact, as well as forecasting global and domestic activity presents significant uncertainty. The Chinese economy, where the virus originated, is expected to contract by 1% in the first half of 2020. Economic activity is likely to also contract in the United States and Europe as governments there take actions to contain the spread of the virus. In response to all these developments, [...]

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Cecil Kilpin | October 2019 Newsletter

By |2022-01-20T13:45:02+02:00Oct 21st, 2019|Business, Finance + Economics, Goverment, Newsletter|

Developing a Strategy to Grow in the Short Term South Africa has limited growth potential in the short term. While government gets its house in order, we need to make sure that, as business owners, we have the correct strategy in place to meet the challenges that face us. Real value lies in the process ofputting the plan together. The act of planning helps you think things through thoroughly, and to critically re-assess your assumptions and ideas. A good strategy needs to be short, sharp and coherent, with a strong opening paragraph illustrating where you are going and how you aim to get there.   STRATEGY AND GOALS List your goals and your mission statement Develop a strategic plan of how your business will achieve [...]

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Cecil Kilpin | September 2019 Newsletter

By |2022-01-20T13:52:21+02:00Sep 18th, 2019|Business, Finance + Economics, Goverment, Newsletter|

Economic Policy Paper for Public Comment The Minister of Finance, Mr Tito Mboweni, is calling on members of the public to make comments on a paper titled: “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”. The paper, prepared by the National Treasury, is an attempt to translate the broad outcomes of inclusive growth, economic transformation, and competitiveness into specific programmes and draw on a range of domestic and international literature to support these policy priorities.   This paper considers the contribution of specific growth reforms that can achieve the outcomes of economic transformation, inclusive growth, and competitiveness. The paper draws on the National Development Plan to outline six themes and the contribution of growth reforms within each theme that prioritize economic transformation, inclusive growth, and competitiveness. The themes include: [...]

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Cecil Kilpin | August 2019 Newsletter

By |2022-01-20T14:01:25+02:00Aug 16th, 2019|Accounting, Business, Finance + Economics, Goverment, Tax|

National Health Insurance (NHI) The NHI Bill was recently promulgated amid a mixed reaction sentiment, positive and negative. While one can identify strongly with the rationale, affordability is paramount as is the management of such a fund. “National Health Insurance is a way of providing good healthcare for all by sharing the money available for healthcare among all our people. The health benefits that you receive will depend on how sick you are, not on how wealthy you are.” So, the big question is how we fund this. The bill is very thin on the funding model with vague mentions of around 5% of the national wage bill plus zero medical credits going forward. Very simply, it would appear that roughly 20% of the population [...]

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Cecil Kilpin | May 2019 Newsletter

By |2022-01-20T14:13:36+02:00May 24th, 2019|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Carbon Tax – How does it affect your business? With the imminent introduction of Carbon Tax, it is important to know how this will affect your business. While your business may not be directly affected by the tax, your suppliers may well have to pass on additional costs incurred as a result of it. So, let’s explore who and what will be subject to the tax. Persons subject to tax:Liability for the tax arises for every entity that conducts an activity and emits GHG emissions above the threshold for the following activities: the Energy Sector (such as fuel combustion activities, petroleum refining, civil aviation, pipelines etc.). the Industrial Processes and Product Use Sector (such as cement production, lime production, Nitric acid production, ceramics, Refrigeration and Stationery Air Conditioning). the Agriculture, Forestry [...]

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