12 September 2013 The Department of Trade and Industry (“DTI”) and the National Credit Regulator (“NCR”) have made a proposal to the Cabinet for a credit information amnesty, which is to be put into place by the end of October 2013. This credit amnesty will have the effect of removing…
Tax crime is manifested in many forms. Here are some prime examples: People don’t declare income in order to not pay the tax on that income. People lie about their expenses to reduce the tax they pay. For example they may lie about their business mileage, business expenses or even…
30 May 2013 EXPLANATORY MEMORANDUM ON THE PROPERTY VALUATION BILL 2013 BACKGROUND A central feature of the land redistribution and land restitution programme has been the acquisition of land on the basis of the ‘willing buyer willing seller (i.e. demand— driven and market —based) model, predominantly based upon the historical…
Ekurhuleni valuation deadline extended The deadline for inspection and lodging of objections to the valuation roll has been extended, and property owners now have until 17 May 2013, to do the aforementioned, according to the Ekurhuleni Metropolitan Municipality (EMM). The closing date of the public inspection period for the valuation…
First a conveyancing scam alert Bad news! After going quiet for a short time, the scamsters are now back and operating in various jurisdictions. Please warn your conveyancing staff not to allow the seller to change the details of the bank into which the proceeds of the sale must be paid….
Destruction or damage SECTIONAL TITLE There are three instances when a building (or buildings) is deemed to be destroyed, i.e. as provided for in section 48 of the Sectionals Titles Act 95 of 1986 (the Act): Upon the physical destruction of the building When the owners by unanimous resolution so…
It often occurs that an heir of a deceased testator dies before or after the death of a testator, who died testate or intestate. The question begging an answer is what effect does the death have on the devolution of the inheritance of immovable property bequeathed or inherited by such…
PROPERTY24 24 Jul 2012 Banks are granting more 100% home loans but they have raised the deposit requirements for those buyers who do not qualify for 100% loans. The average home price paid by first-time buyers in June was R615 000 (compared to R597 000 in May), and the average…
Investing in property is one of the ways to make money, and commercial property is said to be offering good returns. “These fundamental differences between property and other asset investments are often not acknowledged by commentators and analysts.” In particular, he says, these people tend to overlook the huge advantage…
