Am I Not Suppose To Know My Partner's Business Dealings?

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  Thabiso Masoga, Sekororo, SA

Should I be worried that my partner does not disclose his Business financial dealings since we are married in community of property?

Posted: December 10 2013

  NDBS Answer:

If you are married in community of property you should be worried because according to law you are equally responsible and accountable.  You need to know what is going on in the business dealings of your partner.  When they come to attach your property or goods you cannot claim you know nothing and you can’t stop them from doing so.  In as much as company is liable for its debts, should it be found that there are negligence from the owner then as a family you will be held responsible and accountable.

 

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 What  Percentage Of My Salary Must I Spend In Car Installment? 

Colleen Lombard, Witbank, SA

I want to buy a car but want to know first as to how much can go towards my installment without constraining my finances.

Posted: December 04 2013

  NDBS Answer:

Normally it is said that you should not spend more than 20% of your net income, the money you take home after paying the deductions.  This means that if you earn R 15 000 as a take home you should look for a car that you will spend R 3 000.  Bear in mind that you can end up paying R6 000 a month as insurance and petrol according to your usage is not included.  You can break the rules only if you want to pay the car a year less than stipulated as that will reduce interest rates and save in the process but that should be done after making sure that other installments and payments are taken care of. Following this rule of thumb will assist not to go for a car of your dreams with may not be within your reach financially but look for a car that you can afford.  Look at your affordability than buy to impress as some of the people you are trying to impress might be driving a luxury company car or have company allowance for that matter.   If there is a car that you so much love to drive and is not within your affordability rather save money and have a good deposit to put down for the installment to go down on that car.

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 What Is Selenium? 

James Skhosana, Rustenburg, SA

I heard of selenium mixed with vitamins can slow down HIV, what is selenium and its role in human body?

Posted: November 25 2013

  NDBS Answer:

Selenium is a mineral found in the soil. Selenium naturally appears in water and some foods. While people only need a very small amount, selenium plays a key role in the metabolism.  Selenium has attracted attention because of its antioxidant properties. It has been discovered that Common vitamins plus selenium slowed illness in HIV patients in the early stage of their disease.   Antioxidants protect cells from damage. There is some evidence that selenium supplements may reduce the odds of prostate cancer. Selenium does not seem to affect the risk of colorectal or lung cancer. But beware: selenium also seems to increase the risk of non-melanoma skin cancer. 

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 What Is Credit Amnesty? 

NDBS Reader

Posted: November 21 2013

  NDBS Answer:

This is applied in South Africa where those who are blacklisted for owing creaditors are removed from credit bureaus so that they can be able to obtain credits again.  

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 What Are FICA Documents? 

NDBS Reader

Posted: November 16 2013

  NDBS Answer:

FICA means Financial Intelligence Centre Act, the act compels creditors or any financial institution to get original proof of residential address document and an identification document from clients before opening account or doing any financial transaction or purchase.  This is to track money laundering and white collar crime.

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 What Is A Plentiorologist or Plentierologist? 

Sthembiso Msiza, KZN, SA

Please help I have been googling this word after I saw it from one Pastor in South Africa as one of his titles.

Posted: November 08 2013

  NDBS Answer:

The word was has been used by Dr Nala Plentiorologist in KZN as he is a pastor and has a ministry called World Of Plenty Nala Mandate and he titled himself a Plentiolorogist.

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 What Is The Highest Amount One Can Claim Through Small Claims Court In South Africa? 

NDBS Reader

Posted: November 06 2013

  NDBS Answer:

You can claim up to R12 000 and no legal representative required.

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  Can I Take My Business Partner To Small Claims? 

Rosemary Magagula, SA

My partner and I parted ways and he owed me money separate from the business share that I got and refuse to pay.  I need to take legal actions.

Posted: November 06 2013

  NDBS Answer:

You can take your partner to Small Claims Court as a person but cannot take the business no matter how small the amount can be, the only situation where you can take the business is when you bought goods and goods were not delivered and/or have dispute.  And that will depend on how much you are being owed as any amount above R12 000 cannot be handled by Small Claim court.  No legal representative allowed in this court.

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  What Is The difference Between BEE and BBBEE?  Are These only in South Africa or other Countries Also?

NDBS Reader

Posted: November 05 2013

  NDBS Answer:

These are economic policies introduced in South Africa.  Other countries have policies that are named in different ways like Zimbabwe they call their policies indeginasation which is meant to bring balance in the economy where there is equal participation by its citizens.  In South Africa BEE was introduced specifically for Black Empowerment in redressing the economic ills of the past where most blacks were not participating in the economy of South Africa Equitably with other races hence Black Economic Empowerment Policy came to place.  But as South Africa moved towards proper integrated society  Broad-Based Black Economic Empowerment (B-BBEE) was introduced which accommodates companies owned by other races but has shareholding of blacks or employees share schemes,  And where these companies buy goods and services from BEE companies and are involved on skills development and enterprise development through adopting the BEE companies and develop them.  

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  At What percentage Does Value Of A Car Depreciate in South Africa?  

NDBS Reader

Posted: November 05 2013

  NDBS Answer:

The depreciation does not apply to one country only but is a universal accounting and economic standard that is applied on any item that loose value or gain value and when it gains value like a house it appreciate.  In general cars depreciate at between 15 and 20% per year.  At this rate a car will have lost 80 to 85% of its value but based on the demand of that car in the market it can be sold at a competitive price.  

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  What Is The Difference Between Stakeholders And Shareholders?  

NDBS Reader

Posted: November 03 2013

  NDBS Answer:

 A shareholder is someone holding shares or having shares in a company no matter how small the shares may be while  stakeholder is someone with interest in a company for them to benefit, be it in a form of salary or donations.  Also people who are pushing the agenda within CSI can be regarded as stakeholders.

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  What Is A Two Tier System?  

Susan Knight, SA

I read about Rob Davies saying South Africa will do away with Bilaterals with countries and use two tier system while phasing bilaterals out completely, what is two tier system in business?  

Posted: November 02 2013

  NDBS Answer:

Two Tier applies in payroll and wage systems where employees are compensated based on their work than general wage increase.  In economy it may refer to a situation two levels of structure, policies are compromised without doing away with the other.

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  How Are Points Determined on Stock Exchange?

Cornwel Mckenzie, SA

I need help, I hear the shares are now at 40 000 points or up to 45 000, how are these points determined especially on JSE.  As one who bought shares I need to know.  

Posted: October 31 2013

  NDBS Answer:

One point equals one Rand. So when you hear that a stock has lost or gained X number of "points", this is the same as saying that the stock has lost or gained X number of Rands or dollars.  one point always equals one Rand but the percentage value of one point movement can be different for two companies.  Points should not be confused with percentages. The drop in points depends on the high and low of the share price.  

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  What Is Contingency Fee?

NDBS Reader

Posted: October 30 2013

  NDBS Answer:

This is the percentage charged by consultant for the work that is done but payable later.  It is commonly used by lawyers when they have to claim money for a client.  In most cases it is charged at 25%, meaning that if one is claiming R 1 million, R250 000 will go to the lawyer.  It is advisable to sign a contract before starting with the job as the fee can be changed or readjusted.

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