The article gives a brief overview of what a notarial bond is, the requirements that need to be complied with to register a notarial bond and give tips regarding clauses that will prove to be useful in a notarial bond.
How to evict an illegal tenant
Landlords who have tenants that they believe are occupying their premises illegally may not forcefully remove such tenants. The Prevention of Illegal Eviction from and Unlawful Occupation of Land Act (No. 19 of 1998) provides for the prohibition of unlawful
Transfer duty
Transfer duty is a tax levied upon the purchaser of immovable property situated in South Africa.[1] The duty is levied in accordance with the following sliding scale and is based on the value of the property which is the subject
Withdrawal of VAT relief for residential property developers
Section 18B of the Value-Added Tax Act[1] was introduced effective 10 January 2012 in a bid to grant relief for residential property developers caused by the slump in the property market at that time. Many property developers, registered for VAT,
Provisional tax when you sell your property
The provisional tax regime operates as a continuous cash flow mechanism in favour of Government whereby tax on income earned is paid over provisionally in anticipation of the final tax liability to be calculated when a person is finally assessed
A timing anomoly when disposing of property
Property related transactions are typically significant transactions, and therefore tax considerations linked thereto should be carefully considered. One such consideration involves the timing of the disposal of immovable property that was held by persons as capital assets. Sales of such
A new twist in the question: Is the buyer of an immovable property responsible for paying the seller’s outstanding municipal account?
Municipalities are required to issue rates clearance certificates without which a property cannot be transferred from a seller to a buyer. The rates clearance certificate certifies that outstanding debts owing to a municipality up to the date of transfer have
Capital Gains Tax and the sale of a property
Capital Gains Tax was introduced on 1 October 2001. Capital Gains Tax is payable on the profit a seller makes when disposing of his property. What is meant by Capital Gain? A person’s capital gain on an asset disposed
Trustees van beheerliggaam mag nie water of elektrisiteit na ‘n eenheid afsny as ‘n skuldinvorderingsmetode nie
Vir sowel die trustees van ‘n beheerliggaam as die bestuursagent is die wanbetaling van heffings ‘n probleem wat kort-kort opduik. Dit is egter die wyse waarop die wanbetaler hanteer en die uitstaande skuld ingevorder word, wat die verskil gaan maak
Is the buyer of an immovable property responsible for paying the seller’s outstanding municipal account?
Are buyers of property responsible for the payment of outstanding municipal debt run up by the previous owner of the property? The short answer is “Not anymore”. For the long answer please read the rest of this article. What happened