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The Transfer Duty Threshold was raised by R100 000 from R1 000 000 to R1 100 000 on the 1st of March 2023
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Micro, Small and Medium Enterprises contribute hugely to employment creation and development opportunities in South Africa’s, yet it is in many ways an unseen sector crying out for its potential to be unlocked.
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The IDCs Post-Unrest Business Recovery Fund, MCEP Economic Stabilisation Funds and matching grants: providing industrial loan support to affected companies towards the rebuilding of infrastructure, and restoration of equipment, fittings for the premises, stock, and provision of working capital.
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The National Empowerment Fund (NEF) and the Solidarity Fund’s Unrest Relief Fund (URF) have established a R450 million funding programme aimed at supporting businesses that were damaged in the recent riots in KwaZulu Natal and Gauteng.
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The proposed creation of an Office of the Small Enterprise Ombud Service for Small Medium and Micro Enterprises should help to create a protective and supportive environment for SMMEs.
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The SAIA Treating Customers Fairly workgroup on Standardised Terminology has compiled a list of common terms and their meanings as used in personal-lines insurance policies that are potentially confusing to consumers.
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Effective rule of law reduces corruption, combats poverty and disease, and protects people from injustices large and small. It is the foundation for communities of justice, opportunity, and peace - underpinning development, accountable government, and respect for fundamental rights.
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Businesses and individuals who have suffered losses during the violence and unrest are well advised not to make fraudulent insurance claims for their losses.
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With the commencement of the Cybercrimes Act on the 1st of December, it is now a crime to send WhatsApp and other messages, and to create social media posts that threaten to harm others, or which result in violence or damage to property.
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Directors wanting to address problems in financially distressed companies need to be proactive, diligent, and aware of all options available to them, including the option of business rescue, its value, and the importance of its timing.