ARTICLES
Governance Matters: Why Your Scheme May Need a Professional Trustee
When community schemes face deadlocks, governance issues, or financial uncertainty, the right guidance can make all the difference.
With decades of experience in sectional title and community scheme finance, Clint Riddin serves as an independent, objective Professional Trustee — helping bodies corporate navigate complex decisions, ensure compliance, and restore stability.
If your scheme needs strategic support, financial clarity, or neutral decision-making, this article explains how a Professional Trustee can step in and make a meaningful impact.
Levy Income Taxation
Levy income in the sectional title world is exempt from income tax by virtue of Section 10(1)(e) of the Income Tax Act. All income from a residential estate does not fall under levy income, and certain rules must be taken into account when deciding if an income received falls under this category. SARS has published a new interpretation on levy exemptions to delve into this matter.
To audit or not to audit, A discussion on Sectional Title Legislation
Clint and his team have been actively engaged in discussions surrounding the challenges facing sectional title schemes, particularly regarding the escalating costs and availability of auditors. This article delves into the current requirements for mandatory audits of bodies corporate, examining the disproportionate impact on smaller schemes. Drawing on their experience and insights, Clint and his team explore viable alternatives such as accounting officer reports and independent reviews, advocating for a more flexible and practical approach. We believe that timely and relevant financial information is paramount for owners, and this article highlights the need to balance cost-effectiveness with transparency and good governance within community schemes. Join us as we explore potential solutions and discuss how to best ensure the financial health of your sectional title.