Sisulu demands retraction from Australian govt on land redistribution comments.

Cape Town - Minister of International Relations and Cooperation Lindiwe Sisulu on Thursday issued a diplomatic demarche - or course of action - to Australian High Commissioner in SA Adam McCarthy, to demand a retraction of the comments made by their home affairs minister Peter Dutton, over the SA land redistribution process.

"It was communicated to the high commissioner [in a meeting on Thursday] that the South African government is offended by the statements which have been attributed to the Australian home affairs minister and a full retraction is expected," spokesperson Ndivhuwo Mabaya said. "The high commissioner, who was accompanied by his deputy high commissioner, undertook to immediately communicate with the Australian government to convey the message from the minister and South African government."

News24 on Wednesday reported that Dutton was quoted in the Australian media saying that his department was looking into methods that would facilitate the fast-tracking of visas for white South African farmers who want to relocate to that country. Dutton, who also holds the ministerial post for immigration and border protection, told The Guardian that white South African farmers "deserve special attention" because of the "horrific circumstances" of land seizures and violence in the country.

White South Africans Farmers that have occupied the land that they don't own should vacate that land and give it back to the rightful owner of the land without compensation.

source Tammy Petersen

link:www.news24.com/southAfrica/News/sisulu-demands-retraction-from-australian-govt-on-land-redistribution-comments-20180316

Mining not for sissies-Ramaphosa

Cape Town - Nationalising mines could result in a burden on the fiscus, said President Cyril Ramaphosa. He was answering questions from MPs in Parliament on Wednesday. Economic Freedom Fighters MP Mbuyiseni Ndlozi asked Ramaphosa about the nationalisation of mines.

Ramaphosa said it is tempting to think nationalising mining companies which make a lot of profit could bolster state coffers. But there is also a burden to capitalise the mines which should be considered, he explained. A mine could yield profits, but a mines are subject to commodities. If commodities tank, money will have to come from the fiscus, he explained. Ramaphosa said that the risks and dangers have to be examined. “You could be pouring money down the drain.”

He explained there is a risk in pouring billions into holes into the ground, and having to contend with volatile commodity prices.“Sometimes there are years of drought and years of boom. Mining in the most part can go bust or have great years of boom.” South Africa’s developmental state will be subject to those processes. Ramaphosa advised Ndlozi to do research on the matter and engage with people “who have experienced it”. He added that Ndlozi should talk to new Mineral Resources Minister Gwede Mantashe about mining, as he has been in the industry. “Mining is an industry that is not for sissies,” he conclude.

Personally I support President Cyril Ramaphosa, on the issue of being against the nationalization of Mines, it may benefit the state but also we may drawn in drought serious if we don't take this serious, we may lose billions, because we may not be able to manage them as they are managed now. The country's responsibilty is to monitor those only and make it a point that the stuff is treated fairly.

source: Lameez Omarjee

Link:  https://www.fin24.com/Economy/mining-not-for-sissies-ramaphosa-20180314

How will the VAT hike affect property sales?

Cape Town - A question raised about the 1% value-added tax (VAT) increase to 15% as from April 1 2018, as announced in Budget 2018, is how it will affect fixed property sales currently in progress or under negotiation. Leonard Willemse, senior tax consultant at Mazars, explains this question stems specifically from the application of the time of supply rules regarding the sale of fixed property.

If a VAT vendor - for example a property developer - has signed a sales agreement on January 1 2018, but both the payment of the sale price and the transfer of the fixed property is done on or after April 1 2018, it raises the question of which VAT rate applies to the transaction: 14% or 15%? The VAT Act states that fixed property is supplied under a sale at the earlier of the dates on which registration of the transfer of the fixed property at the Deeds Office takes place or when any payment in respect of the sale price for such "supply" is made by the purchaser.

He gives as an example a situation where a VAT-registered property developer enters into a sales agreement with a purchaser on January 1 2018 for the sale of a unit with a price of R10m (inclusive of VAT). Both parties sign the agreement on January 1 2018, construction starts before April 1 2018, is completed after that date and the registration of the transfer of the property in the Deeds Office is after April 1 2018. Payment is made on the transfer date.

In terms of the fixed property time of supply rules, the time of the supply takes place after April 1 2018, effectively resulting in the transaction being subject to VAT at 15%. The seller ends up receiving less from the sale or, conversely, the purchaser ends up paying more.

sourse: News24

link: https://fin24.com/money/property/howw-will-vat-hike-affect-property-sales-20180309

R1.2m Gupta-linked donation: ''we are not captured says SAICA on Malema claim''.

Cape Town - The South African Institute of Chartered Accountants (SAICA) rejected allegations made by EFF leader Julius Malema relating to a student funding donation."We have noted, with great concern, the accusations levelled at the Institute due to misinformation about a student funding donation that one of SAICA’s entities, the Thuthuka Bursary Fund (TBF) received from Trillian Capital (Pty) Ltd," chairperson and acting SAICA CEO Fanisa Lamola said in a statement on Friday.

Malema on Thursday took issue with Terence Nombembe being named as the head of investigations in the state capture commission.He demanded that Nombembe recuse himself because during his tenure last year as the CEO of SAICA, the organisation accepted a donation from Trillian, which is implicated in the Gupta scandal.

"By the time SAICA received the donation it was common cause and public knowledge that Trillian Capital was used as a corruption vehicle by the Guptas' criminal syndicate and had received more than R500m from Eskom," said Malema.

It seems that wherever you go in South Africa Guptas are involved, but I personally think that by the time that SAICA was receiving these donations from Tirllian Capital they had no knowledge about the how fraudulent that company was. So they should not be accused of such.

source: News24

link: http://www.fin24.com/Companies/Financial-Services/r12m-gupta-linked-donation-we-are-not-captured-says-saica-on-malema-claims-20180309

Magashule associate convicted for fraud in corrupt tender saga

Bloemfontein - A marathon corruption case in the Free State involving dodgy tenders awarded by the province's department of education has culminated in the conviction of a close associate of Premier Ace Magashule.

Isaac "Blacky" Seoe, a former business partner of both Magashule and one of his sons, Tshepiso, was found guilty on a charge of fraud in the Free State High Court in Bloemfontein in February. He was, however, acquitted on charges of corruption, bribery, money laundering and racketeering related to the same matter.

Seoe is the same Free State businessman who can be seen on CCTV video footage accompanying the premier and officials from the Free State Development Corporation (FDC) on a site visit to a Shell fuel station in Phuthaditjhaba in the eastern Free State in 2014.

Ace Magashule the new secreatery of the ruling party(African National Congress) seems that He was involved in fraud, its funny how our leaders we elect because of the trust we have in them turned to disappoint us. It was his suggestion for the ministers to be investigated of fraud but he was the first one to be found involved in the money laundering with His son.

source: Peter Louise Myburgh

Link www.news24.com/SouthAfrica/news/magashule-associate-convicted-over-corrupt-tender-20180306

Politics in South Africa

POLITICS IN SOUTH AFRICA

This article is about the leading party in our country (SA). The republic of South Africa is a parliamentary representative democratic republic. The President of South Africa serves both as head of the state and the head of government. The President is elected by the National Assembly and must retain the confidence of the Assembly in order to remain in office. South Africans also elect provincial legislatures which govern each of the country's nine provinces.

Since the end of apartheid in 1994 the African National Congress (ANC) has dominated South Africa's politics. The ANC is the ruling party in the national legislature, as well as in eight of the nine provinces ( Western Cape is governed by the Democratic Alliance). The ANC receives 62.15% of the vote during 2014 general elections. It had received 62.9% of the popular vote in 2011 municipal election. The main challenger to the ANC's rule is the Democratic Alliance led by Mmusi Maimane which received 22.23% of the vote in 2014 election.

Other major political parties represented in Parliament include the EFF and IFP, which mainly represents Zulu voters. The former dominant new national party, which both introduced and ended apartheid through its predecessor the National Party, disbanded in 2005 to merge with the ANC. Mr Jacob Zuma served as President of South Africa since May 9, 2009 until his resignation in February of 2018. Zuma was replaced by Cyril Ramaphosa, who is also the president of the ANC. The country's next general election will be held in 2019

I hope for the better on the next coming election which will take place in 2019, may people elect a part that will be best to serve the member of this country for the good not for their own agendas or benefit....

title : Politics in South Africa
source : ISBN & Wikipedia
link : https://en.wikipedia.org/wiki/Politics_of_South_Africa