Mawandi Lifestyle and Business Directory
Main menu:
Mawandi - Accounting
Departments > Your Business
NEWS
THE FUTURE FOR CLOSE CORPORATIONS 13 January 2010
The new Companies Act, which is expected to come into operation during the year, will have a profound effect on the way business is done in South Africa, and in particular, on the future of close corporations (CC’s). see more...
LINKS
CC Pro's - Specialists in all CC Matters. Trusts also available at very reasonable prices.
ACCOUNTING BODIES
Accounting Standards Board - ASB - A more comprehensive list of professional accounting organisations and accounting standard setting bodies may be found here.
Institute of Certified Bookkeepers, South Africa
SPACE TO RENT
GLOBAL MANAGEMENT SOLUTIONS (CAPE)
We offer a comprehensive management support service which includes accounting, auditing, tax, financial and
business planning. We tailor our service to suit your business needs. Our service levels are world class and we guarantee our rates are reasonable.
Contact Francois on 0837920065 or info@glb.co.za.
THE FUTURE FOR CLOSE CORPORATIONS 13 January 2010
SAI
The new Companies Act, which is expected to come into operation during the year, will have a profound effect on the way business is done in South Africa, and in particular, on the future of close corporations (CC’s).
A close corporation is an inexpensive and simple method to establish and maintain a business which was introduced into South Africa for the specific purpose of encouraging small business development. One of the main aims of the new Companies Act is to promote the development of the South African economy by making the formation and maintenance of a company more flexible and simple, and by doing so, facilitating the formation of a small private company comparable to a close corporation.
For this reason, from the time that the new Companies Act comes into operation, the formation of close corporations will no longer be necessary. No new close corporations will be registered, and existing companies will not be permitted to convert to close corporations. The Companies and Intellectual Property Registration Office (CIPRO) will continue to process and implement any applications for incorporation or conversion which it has received, but not processed, by the date when the new Companies Act takes effect.
Under the new Companies Act, close corporations will continue to exist indefinitely until they are deregistered or dissolved under the current Close Corporations Act, or converted to a company under the new Companies Act. The current Close Corporations Act (with slight amendments) and the new Companies Act will exist concurrently and CCs will be required to comply with the provisions of both Acts.
Although a CC is currently cheaper and easier to incorporate and maintain than a company, it is not yet known what it will cost to incorporate and maintain a small scale company comparable to a CC under the new Companies Act. The practicalities of such a company have not yet been tested and only time will tell how it compares to a close corporation.
One of the obvious advantages of incorporating a CC before the new Companies Act comes into operation is that one will have the choice of continuing business as a CC for the foreseeable future (and to a large extent according to the current familiar legislation), or converting to a company once the new simpler and more flexible concept of a company provided for in the new Act has been tried and tested.
The new Companies Act contains an easy and fairly seamless process for converting a close corporation to a company. All that is required is a notice of conversion, a special resolution of the members approving the conversion, a new memorandum of association or an amended founding statement which complies with the provisions of the new Act, and payment of the prescribed filing fee. Following the conversion, the assets and liabilities of the CC will vest in the company and each member of the CC will be entitled to become a shareholder of the company.
If you are considering incorporating a business within the next few months, registering a CC before the date when the new Companies Act takes effect will enable you to establish your business in accordance with familiar legislative requirements and will give you the added benefit of continuing business as a CC or converting to a company once we have entered the new dispensation.
OMNIBIZ TRAINING & MANAGEMENT SERVICES
Consultation and Evaluation; Registrations – CC, VAT, UIF; CC Amendments; Business Plans/Profiles; Proposals; Bookkeeping; VAT Calculations; Staff Policies dox - 10% discount off all services until 30 June 2009. CONTACTS: Amina Smith, Business Mentor/ Life Coach, Tel 021 7033306/ 7033774, Fax 021 7035257, Mob 084 5855541, info@omnibiz.co.za.
BUILD YOUR OWN WEBSITE
MDS ACCOUNTANTS AND ASSOCIATES (JHB - CRESTA)
Is an independently owned and managed accounting firm, our values and operational principle s embrace a culture of integrity, accountability, empowerment and broad entrepreneurial transformation. In light of these above operational principles we have found a strong value of existence and service offering. The firm is managed and controlled by a team of highly qualified and experienced individuals whom share a growth vision for the company and the clients we service.
What services do we offer: Our strategic outlook as a firm is focused on providing essential taxation, auditing, advisory and business development solutions. Coupled to this services offering, we equally focus on corporate governance compliance management, accounting standards performance/compliance management and auditing. The firms competitive advantage is primarily our will to develop tools, products and support mechanism that are aimed at supporting the growth and depth of any micro, medium and corporate undertakings, in order for such undertakings to achieve their maximum efficiencies.
We are offering all your members and SMME's that use our services for the first time a 15% rebate on our standard hourly rates.
Contact - Mr. Mkhabela 071 384 6672. North cliff Corner Shopping Cnr, Beyer's Naude & Milner Street, Cresta
Tel: 011 888 4891/2 Fax: 011 888 7014 E-Fax: 086 694 8325 Email: info@mdsaa.co.za
KGORUTLE AND ASSOCIATES (JHB - BENONI)
Is a medium-sized registered public accounting and accountant firm. The firm has extensive experience with a broad and diverse range of clients. These include
small and large firms in the private sector as well as the public sector. The professional and personal involvement of our managements (Accountants) in all our client engagements is an outstanding feature of the service provided by Kgorutle & Associates. At Kgorutle & Associates we take great pride in our ability to customise our services to suit each of our client's specific requirements and to do so with integrety by using a team of commited and experienced professionals. All staff members within the network adhere to the same high standards of quality and share skills, resources and expertise to create the best practice.
Qualified accountants offers the following services: Financial accounting; Bookkeeping; Taxation; Payroll; Vat / paye / uif; Auditing, Tax compliance, Business advisory services, Business valuations, Business plans, Purchases and sales of businesses, Management accounting and reporting, Loan facilitation, Business restructuring, Alternative dispute resolution, Management consulting, Risk management, Company secretarial, Income tax. Accounting officer to close corporations and all related services. Leave all the accounting and taxation aspects of your close corporation to me.
Contact: Peter Kgorutle, Tel: 011 422 4885, Fax: 011 422 4885, Fax: 086 696 7299, Woburn House, 71 Woburn Avenue, Cnr. Woburn and Roothsay, Benoni.
PSYBER CONSULTING SOLUTIONS
For all database development needs as well as all accounting, tax and IT services. Mention Mawandi and receive a
20% discount on hourly rate for first-time business. CONTACT: Werner, Tel: 082 619 1517, Email: koenwk@webmail.co.za