Exemption of transfer duty when taking transfer after divorce EFFECTIVE 25 JULY 2006 Please note that from 25 July 2006 a surviving or divorced spouse who acquires the sole ownership in the whole or any portion of the property registered…
The Receiver of Revenue will now do a risk analysis regarding outstanding taxes on both the transferor and the transferee on all transfer transactions. If there are any taxes outstanding by either of the parties, the Receiver will not issue…
A) For properties acquired at any time (i.e. before or after the 1st of October 2001):- The normal method The capital gains tax is calculated on the difference between the price for which the property is eventually sold and the…
This brief guide is intended to outline in very broad and brief terms, the key principles that form part of Capital Gains Tax legislation in South Africa relating to immovable property.
As you are aware the judgment in the case of City of Tshwane v Mathabathe has led to the Municipalities seizing upon the opportunity to demand payment of rates and taxes and other debts not incurred by the new owner…
The National Environmental Management: Biodiversity Act 2004 (Act No 10 of 2004) (The “Act”) provides for the management and conservation of South Africa’s biodiversity and the establishment of a National Biodiversity Institute for the implementation of the Act. In terms…
NOTE! IT IS STRONGLY ADVISED THAT YOU CONTACT AN ATTORNEY OR CONVEYANCER SPECIALISING IN THE SALE OF IMMOVABLE PROPERTY AND RELATED TRANSACTIONS SUCH AS DYKES VAN HEERDEN INCORPORATED SITUATED IN YOUR AREA, FOR ASSISTANCE AND ADVICE REGARDING EACH AND EVERY…
Fractional Ownership based on the ownership of undivided shares in a property as opposed to shares in a company or member’s interest in a CC (which may be in contravention of the Share Blocks Act) can be bonded in the…
Since the 1st of September 2007 it is imperative that an estate agent notify the conveyancer that the seller is a non-resident otherwise the agent can forfeit his commission to SARS. Download the pdf document to read the full article.
There have been certain articles recently which have stated that South Africa intends to only allow foreigners to purchase property on a 99 year lease. These reports are not all together accurate. All that has happened is that the relevant…