thanks for the response Eileen, my only question is would this be the correct way to do this from an accounting perspective? I am not looking for a work around ...

thanks for the response however as noted above the company is a Pty Ltd rather than a sole prop. I understand the equity usage for a sole prop or an LLC. I need...

Thanks for the replies here, I eventually contacted the official SAICA ( south african Institute of charted accountants ) that set the legal aspects based of IF...