Investing in a property or buying your dream home is an exciting and rewarding experience. But one of the not-so-exciting, but crucial parts of any property purchase is the calculation and payment of one or more different kinds of tax.
Section 35A of the Income Tax Act came into effect on 1 September 2007 and sets out the capital gains tax consequences of the sale of immovable property situated in South Africa in instances where the seller is not a
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 is a tax levied upon the purchaser of immovable property situated in South Africa. The duty is levied in accordance with the following sliding scale and is based on the value of the property which is the subject
Section 18B of the Value-Added Tax Act 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,
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
Estate duty is charged on the dutiable value of the estate in terms of the Estate Duty Act. The general rule is that if the taxpayer is ordinarily resident in South Africa at the time of death, all of his/her
A purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to the payment of VAT or transfer duty to SARS. When an immovable property is