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Yet Another Indirect Tax / Nog ‘n Skeppie Room
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Die Prokureurs- en Advokate professies, was tot onlangs onderskeidelik, afsonderlik deur die Provinsiale Wetsgenootskappe en Plaaslike Balie-verenigings beheer, ooreenkomstig die terme van die Wet op Prokureurs, of die Wet op Advokate. Beide word egter sedert die inwerkingtrede van die Legal Practice Bill (Wet 20 van 2014) (LPA) verlede jaar deur die “Legal Practice Council (LPC) beheer.
The LPC is a statutory regulatory authority and does not have any professionals as members like the previous Law Societies and Bar Association always had. All admitted and enrolled legal practitioners (both attorneys and advocates) are now regulated by the LPC. The respective Provincial Councils and Bar Associations to which legal practitioners still belong, are now substructures of the LPC, but those only have delegated functions.
Hierdie verandering raak natuurlik hoofsaaklik ons as praktisyns, maar soos die ondervinding in Suid-Afrika geleer het, hou die skepping van statutêre liggame altyd ‘n koste in vir die verbruiker en die nuwe LPC is geen uitsondering daarop nie. Die LPC moet sy befondsing van iewers kry en het dit toe op die model van sy Britse eweknie gebaseer.
The Legal Practitioners Fidelity Fund (LPFF) as a functionary of the LPC has entered into a Banking Arrangement with most banks in terms of which the LPFF will automatically sweep 5% of trust interest earned on section 86(4) trust investments, in terms of s 86(5) of the Legal Practice Act, to the nominated LPFF bank account.
Dit beteken dat enige persoon of entiteit, wie fondse op ‘n rentedraende belegging in ‘n trustrekening van ‘n regspraktisyn hou, vyf present van die rente wat so verdien word vanaf 1 Maart vanjaar, aan die LPFF afstaan.
In terms of s 86(6) of the LPA , a legal practitioner may not deposit money in terms of section 86(2), nor invest money in terms of s 86(3) and (4) in accounts held at a bank which is not party to an arrangement with the LPFF as is provided for in s 63(1)(g), unless prior written consent of the LPFF has been obtained.
Daar sal deur die Suid-Afrikaanse Inkomstediens (SAID) van die deelnemende banke vereis word om 'n IT3b belasting-sertifikaat aan die regspraktisyn (of die regspraktisyn se kliënt) uit te reik vir die 95%-gedeelte van die rente, wat op enige aparte trust rekening, of ander rentedraende rekening, inkomste verdien. Byvoorbeeld, as die rente vir die maand R100 is, sal die IT3b vir R95 uitgereik word.
May our beloved Cape be blessed with good rains this winter. We trust the government won’t skim 5% off the top!
Greetings / Groete
Hennie, Eberhard & Cheryl-Anne | Directors
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