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NewEra has been ordered to appear in court on Tuesday 14th May on charges of "vexatious litigation" and has been asked to explain why its directors should not pay the banks' court costs, writes Arlene Levy.The New Economic Rights Alliance (NewEra) has lodged a complaint with the National Credit Regulator (NCR) calling on it to force the major banks to disclose details of their securitisation transactions, which are reckoned to exceed R20 billion a month, writes Arlene Levy.
A total of 9,3 million South Africans out of 19 million with credit records are now three or more months in arrears on at least one debt. That’s about half the credit-worthy population behind on their bills, which is blamed in part of reckless lending by the banks.
South African Revenue Services (SARS) has the power to appoint anyone as its collection agent. It has done it to employers, banks and now retirement funds, writes Ciaran Ryan.
New powers granted to the Competition Commission are likely to be put to use in the healthcare sector, which government suspects has engaged in anti-competitive behaviour, writes Ciaran Ryan.
There are reckoned to be 55 million tweets a day gushing forth from an army of 500 million citizen journalists and commentators. Many are now finding themselves subject to the same legal rigours as traditional newspapers.
Economists and tax specialists were generous in their praise of finance minister Pravin Gordhan’s 2013 budget delivered yesterday, but the big question remains: where is the growth?
Finance minister Pravin Gordhan has announce personal tax relief of R7 billion over the 2013 tax year. Adjustments to the medical tax credit and other relief will add R350 million in relief to South African tax-payers.
Finance minister Pravin Gordhan’s 2013 Budget proposals make modest concessions to demands for austerity while continuing to service the growing demands for social welfare.
There seems to be an emerging consensus among Budget watchers that finance minister Pravin Gordhan will announce tax increases – but not yet.
President Jacob Zuma’s State of the Nation address last night was a scorecard of government achievements over the last 12 months: nearly 200,000 households added to the electricity grid, 675 kilometres of electricity transmission lines rolled out, 85% (or 12,1 million) of households with access to electricity, 98 new schools and R47 billion invested in renewable energy projects.The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.
