RATES CLEARANCE CERTIFICATES - A GUIDELINE FOR HOME OWNERS
With thanks received from Smith Tabata Buchanan Boyes Attorneys: Jan 2015 If you own an erf or a sectional title unit, you are liable for certain payments to the local authority with jurisdiction over the property. This local authority has the right to collect two types of contributions from property owners: A form of tax […]Read More
HOW WILL THE NEW ALIEN INVASIVE PLANT REGULATIONS IMPACT YOU?
The main aim of the legislation is prevent more alien invasive species coming into South Africa and the new regulations are intended to halt the spread of potentially devastating species. Invasive Alien Plants (IAPS) are a major threat to biodiversity, human livelihoods and economic development. Many IAPS are products of unwise and unintentional plant introductions, however if new invasions are discovered before they are well established, eradication is possible and management costs are greatly reduced.Read More
NO MAINTENANCE, NO HOMELOAN
Maintenance defaulters are shortly going to find it much more difficult, if not impossible, to buy property, thanks to proposed amendments to the National Credit Act (NCA) regulations. Now with maintenance payments added to the list of debt obligations they must include in their calculations, and maintenance defaults to be included when it comes to […]Read More
SUSPENSIVE CONDITIONS... AND THE 'HARSH' CONSEQUENCES OF NON-FULFILLMENT THEREOF
A recent Supreme Court of Appeal judgment illustrates the importance of fulfilling suspensive conditions in an agreement and the consequences of not doing so. On 11 April 2007, an agreement relating to a property development was entered into between Pangbourne Properties Ltd (Pangbourne) and Africast (Pty) Ltd (Africast). This agreement was subject to a suspensive […]Read More
CAPITAL GAINS TAX (CGT) - WILL YOU BE PAYING & HOW WILL IT BE CALCULATED?
Some facts on CGT: Capital gains tax (CGT) is not a separate tax but forms part of income tax. A capital gain arises when you dispose of an asset on or after 1 October 2001 for proceeds that exceed its base cost at that time. A South African resident, as defined in the Income Tax […]Read More