As per regulation made under the South African law promulgated in 2011, entities in South Africa are permitted to use either International Financial Reporting Standards (FIRS), the FIRS for SMEs, or the South African Generally Accepted Accounting Practice (SA GAAP). Section 32(1) of the Estate Agency Affairs Act requires an estate agent to open and keep one or more trust accounts, to be properly...
At the end of every financial year, the EAAB requires your auditor to submit your AUDITED financials on or before the end of June each year. An extension may be granted at the EAAB’s discretion. Once the financials have been completed, the auditor needs to log in to the EAAB’s Auditors portal and submit the financials of both the trust account and the business account. Non-submission of the...
As a Franchisee, you need to submit your annual IT 34 tax clearance from SARS to SAGH. This needs to be uploaded to your personal folder. The submission of the IT34 tax clearance is a part of the Franchisor’s monitoring compliance to assess the status and compliance of...
Every five years the EAAB has the right to request you to do an online self-assessment as part of your FICA compliance. In order to comply you will need to answer the online questions, assessable via the “My EAAB” portal, and then upload the following documents. The following are examples only, please update them with your own information and evidence. Annexure 48 – Cash Threshold...
In compliance with the new POPI legislation, all documentation, emails, and communications are to be stored in a place or format that protects the personal information of any person that may be involved in the transaction. The HUB has been designed in such a way that all your documentation can be uploaded and stored in a manner that is compliant with the POPI Act. Documentation is stored in the cloud...
Every Principal, agent, and employee of a franchisee needs to sign the SAGH Confidentiality agreement. This agreement is to be uploaded to the franchisee’s personal folder. Annexure 3 - Confidentiality and Non-Disclosure...
As per the Franchise Agreement, all royalty fees payable to SAGH are to be paid via the transferring attorney. It is considered a material breach of contract for any franchisee to collect the royalties and then to pay them over to the Franchisor at a later date. The Franchisee is responsible to verify that payment has been made to the Franchisor. Should a franchisee breach this clause in their agreement...
The HUB is the central part of the Company’s management and compliance system. The use of any system outside of the HUB, or another system currently employed within the organisation, such as Property 24, will not be accepted without the prior written consent of the Franchisor. All management, be it personnel, sales, orders, reports, training, etc., is to be done via the HUB. Should a particular...
All communications will be done via email or the HUB or any other system implemented by the Franchisor and deemed to have been received once the communication has been sent, provided that proof of the submission can be provided by the...
The Franchisee is responsible for the education and training of its agents and may not place this responsibility upon the Franchisor. The Training Manual is an ongoing resource page designed to assist the Franchisee in the training of their agents. The agents have access to the information which has been designed as a blog page for ease of reference and on-the-go information as they can access the blog...