When property is acquired by any person by way of a transaction, or in any other manner, transfer duty will be levied on the value of the property. The transfer duty rates change on a regular basis and the latest rates, which will apply to all properties acquired on/after 1 March 2017, were announced during...
Author: go$-admin
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The effect of the Taxation Laws Amendment Act on interest-free or low interest loans to trusts
On 1 March 2017 the Taxation Laws Amendment Act, 16 of 2016 came into effect, introducing section 7C into the Income Tax Act, 58 of 1962. This new provision will have an impact on low interest or interest-free loans to trusts. Previously, estate planners transferred their wealth by making use of their trusts by either:...
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Is your will up to date?
When is the last time you updated your will? Do you have a valid will? By making a will or updating your will as your personal circumstances change you can ensure that your assets are disposed of in accordance with your wishes after your death. By having your will drafted by an attorney, you will...
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Are you in need of expert advice regarding a property transaction that you are involved in?
Contact us for expert advice regarding the sale of your property. We can assist in the negotiation and drafting of a deed of sale between you and your purchaser and also assist in making sure that your interests are protected. Should you also then instruct us to attend to the registration of the transfer in...
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Capital Gains Tax and Immovable Property – What you need to know
Capital Gains Tax (CGT) was introduced in South Africa with effect from 1 October 2011. It applies in all cases where capital gains or losses are made on the disposal of an asset unless it has been excluded by specific provisions. This capital gain or capital loss should then be declared in your annual income...
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