Sars toughens up on property transfers - Property

Sars toughens up on property transfers Transfers will be delayed unless all parties have their taxes in order. From this month (October 2012), a new system introduced by the SA Revenue Service (Sars) means that the transfer of any property will be subject to delay unless all the parties involved - including the estate agency - have their tax affairs in order. A new transfer duty e-filing system is being introduced that requires the transferring attorney to fill in not only the tax numbers of the property buyer and seller, but also that of any estate agency involved - and to provide proof that those tax numbers are valid. Clearly, Sars wants to ensure that the tax returns and payments of everyone involved in a property sale are up to date. The tax authority has for some time now been checking to see that property sellers have paid any and all tax amounts owing before it will issue the transfer duty receipts required for transfers to be finalised. It also has the power to in

Rules of renting when government owns the property

Rules of renting when government owns the property What are the rights of a tenant living in a dwelling owned by either the national, provincial and local governments, or by social housing institutions? Is there a difference between a private landlord, the government or social housing institutions in respect of a residential tenancy? Social housing institutions receive subsidies from the government to provide rental housing, with tenants as beneficiaries of subsidised rentals. Rights do not exist without responsibilities, so the question may be re-phrased as: "What rights does the government or social housing institutions have regarding a tenant?" Section 26 of the constitution stipulates that every citizen has the right of access to adequate housing and the government must take reasonable legislative and other measures to make this right a reality - as long as it has the resources to do so. The Rental Housing Act, 50 of 1999, refers to the government's resp

Property transfers: who gets the interest?

Hi Readers This is extremely interesting to me because it highlights the need for parties to property transactions to engage the use of industry experts with proven track records when selecting a conveyancing attorney. I simply can't fathom why this should be an issue and yet less than a week before this my father referred me to a similar article in a magazine. If the attorney truly acts on behalf of his/her clients and has their best interests at heart, the SURELY he/she should ensure that the client (buyer and seller) exit the transaction with the best financial result possible.  This appears to me to be so self-evident that I fail to understand how attorneys can possibly act differently. (At Shepperson Attorneys, we continually seek the best Section 78(2A) products for our clients and ensure that as soon as possible after being instructed our Clients are presented with the necessary Mandate for us to invest in such an investment on their behalf as soon as the funds arriv

Denny Crane

Denny Crane
It's not me ... yet. Denny Crane from the TV series Boston Legal. Click on picture if you're not sure who he is!