AFB Secretarial Services
- Company registrations
- Amendments to Close Corporations and Companies
- CIPC Annual Returns
- Unemployment Insurance Fund registrations
- Compensation for Occupational Injuries and Diseases Act registration
- SARS Income Tax Registrations
- SARS VAT Registrations
- SARS Pay-As-You-Earn (PAYE) Registrations
The lodging of Annual Returns by Close Corporations came into practice and was implemented on 1 September 2008.
In terms of the Close Corporations Act, each Close Corporation has to lodge an Annual Return once every year, within the anniversary month of the Close Corporation’s official incorporation up until the month thereafter. For example, if your Close Corporation was registered in May, the Annual Return is due in May or June.
The purpose hereof is to provide CIPC with the latest information about registered Close Corporations that are still in operation. Should a Close Corporation fail to lodge and pay its Annual Return within a period of six months, it may be concluded that the Close Corporation is no longer conducting business and it may be deregistered.
This fund (The Compensation Fund) provides for compensation for disablement caused by injuries and diseases sustained or contracted by employees during their employment period as a direct result of their occupation. It also compensates for death as a result of injuries and diseases in the same manner. Employers pay an amount every year (compulsory) to the fund from where these benefits are paid.
In essence it is compulsory insurance cover for employers should any of their employees die, sustain an injury or contract an occupational disease during the course of their employment.
The Unemployment Insurance Act and Unemployment Insurance Contributions Act apply to all employers and workers, but not to:
- Workers working less than 24 hours a month for an employer;
- Public servants;
- Foreigners working on contract;
- Workers who get a monthly State (old age) pension; or
- Workers who only earn commission.
Domestic employers and their workers are included under the Act since 1 April 2003.