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When debt is reduced or written off, certain adverse tax consequences may arise for the debtor.

The Sasfin Bank Limited vs SARS judgment delivered last week dealt with the crossroads of tax enforcement, banking regulation and law of delict.

Foreclosure on a primary residence is one of the most emotionally and economically devastating events that a debtor can face.

A South African court examines whether an acknowledgement of debt containing specific payment terms qualifies as a promissory note under the Bills of Exchange Act, determining the applicable prescription period for debt recovery. The case turns on statutory interpretation of negotiable instruments and the distinction between mere acknowledgements and unconditional promises to pay.

The taxation of gains realised by directors and employees under share incentive schemes was previously governed by the provisions of s8A of the Income Tax Act, 1962 ("the Act"). That situation has changed with the introduction of the Revenue Laws Amendment Act 32/2004 ("the Amending Act") which was promulgated on 24 January 2005. The Amending Act contains far-reaching changes to the old regime.

Below is a copy of the article with originally appeared in the April 2019 edition of the official South African attorneys' journal De Rebus.

In meeting its policy commitments and addressing the regulatory amendments required to implement the Payments Ecosystem Modernisation (PEM) Programme, the South African Reserve Bank (SARB) published two draft documents for public comment.

We are often spoken of as an economy with high levels of debt. Even when interest rates are high, we have never been scared of gearing ourselves so that we can buy that expensive car or holiday house in Hermanus. Companies too often have high levels of debt