According to a survey by employment services organisation, Manpower SA, nearly one third of employers in South Africa’s main economic areas plan to hire more staff between October and December this year. The 2010 Soccer World Cup, business growth and expansion have all contributed to the rosy job outlook.

Job openings are mainly expected in activities critical to economic growth like mining, power supply, wholesale and retail trade, construction, transport and telecommunications. Positions in high-skill and high-wage occupations like accountants, researchers and professions in financial services also expected to open up.

Of the R495.5-billion revenue collected, personal income tax amounted to R141.4-billion. Minister of Finance, Trevor Manuel, reported that SARS had recorded an 8% increase in the number of taxpayers and that this was attributed to continued job creation, a nine percent increase in pay and higher than anticipated  bonuses.

Due to a number of complaints and enquiries received from the public, the National Credit Regulator (NCR) conducted an investigation into Rudco Finance (Pty) Ltd (Rudco Finance) operations.

The investigation revealed that Rudco Finance contravened a number of provisions of the National Credit Act (the Act) as well as various sections of the Usury Act in respect of trans-actions concluded before 1 June 2007.

Property investment company Townhouse Warehouse (TW) has informed its clients that the NCA does not apply to mortgage credit agreements if the loan is registered in the name of a close corporation (CC), private company or trust with more than two trustees.

In a recent email to clients, TW advised clients that should they experience difficulty when applying for loans for multiple property purchases in their own names, they should consider registering a CC.

TW assists clients to purchase townhouses for around R500 000 each from developers.

They claim that any creditworthy South African who follows TW’s ‘investment recipe’ will be able to acquire at least one townhouse per annum from the age of 25 to the age of 45. Their latest offer is free CC registration for investors who buy a townhouse unit from a new TW development.