Hi The most relevant part of Minister Nene's Budget Speech for those involved in the Property Industry was the amendment to Transfer Duty. The new rates will only apply to property acquired on or after 1 March 2015 by any person, including companies, close corporations and trusts. In summary, the following was announced in the Budget: Rate of transfer duty Taxable Income (R) Rate of Tax (R) R0 - R750 000 0% of property value R750 001 - R1 250 000 3% of property value above R750 000 R1 250 001 - R1 750 000 R15 000 + 6% of property value above R1 250 000 R1 750 001 - R2 250 000 R45 000 + 8% of property value above R1 750 000 R2 250 001 R85 000 + 11% of property value above R2 250 000 Please don't hesitate to contact us if you require a detailed quote relating to the total costs involved in Property Transfers or if you want advice on how to mitigate
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Sirius Real Estate flat on listing - Property | Moneyweb Germany-focused property fund debuts on AltX. JOHANNESBURG – Sirius Real Estate Ltd, a wholly Germany-focused property fund, traded in a tightly bound range on Friday morning, after listing on the JSE’s Alternative Exchange (AltX). By 12:28, just more than 1 million shares had traded, out of a total issued share capital of 632,257,832. Having listed at R6 a share, the day’s low was a moderate R5.95, before edging back up to R6. At that price, Sirius has a market capitalisation of approximately R3.8 billion. With a portfolio the company says is independently valued at R6.4 billion, Sirius is solely a specialist in German property, specifically 30 mixed-use business parks. The company is incorporated in the Channel Island of Guernsey.
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Property Mogul - Issue 2 - now out The first piece of investment advice I received was when I turned 18. My father told me that I must invest a third of my savings in property, another third in equity and the remaining third in cash. This investment philosophy was pretty ubiquitous in the 1980s and explains why so many South Africans still firmly believe that property investments, especially residential investments, should form the foundation of investment strategies. However, the market has changed significantly over the past 20 years. Apart from many regulatory changes, which had a negative impact on investment-focus residential properties, the listed property sector has consistently been one of the best performing sectors of the JSE.