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Insuring Your Business

ASPECTS TO CONSIDER

Insuring your Business adequately is a priority for any Business owner.  One needs to make sure that in the event that a loss is suffered, the Company is able to recover effectively and the business is not at risk.

However, there are a few factors that may be taken into consideration in an attempt to keep costs within the Budget allowed for Insurance cover.

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What is the meaning of average?

The recent devastating fires that have destroyed so many parts of the beautiful Knysna area have left many people homeless and without the possessions they have accumulated over many years.

Some items have sentimental value and these cannot be replaced however, most people were expecting to have homes and contents replaced by their Insurers.  What a shock for so many people who have now discovered that they are under-insured.

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Crime Alert: Impersonation of SAPS Officials

Impersonation of SAPS Officials, by Criminal Syndicates, claiming the false recovery of stolen vehicles:

Please be aware of the following scam, which has been active for approximately the past year, reported to the Insurance Crime Bureau by several member companies; recovery agents and tracking companies.

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Tenant vs Landlord

FIXTURES AND FITTINGS

TENANTS AND LANDLORDS

WHO IS RESPONSIBLE TO INSURE WHAT?

 

Whether you are a Building/Property Owner or a Tenant renting out space from a Third Party, it is very important to know who is responsible for the insurance in respect of fixtures and fitting and glass cover.

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Taxpayers pay the price for poor communication from SARS

Poor communication from SARS when issuing assessments following an audit is causing confusion and frustration among taxpayers.

The purpose of a letter of audit findings is to give taxpayers advance warning of a potential tax assessment, and an opportunity to respond if they disagree with the SARS findings. This "opportunity to be heard" is particularly important in the context of tax because, once SARS has issued an assessment, the taxpayer is obliged to pay immediately, even if the taxpayer believes SARS is incorrect, because of the "pay now, argue later" rule. Read the full article here

If SARS can escape the obligation to give taxpayers an opportunity to be heard before having to pay, it makes a mockery of the supposed protections in the law. Make sure you stay protected with tax risk insurance.

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