Sale Of A Farm As A Going Concern

In order to avoid the cash flow implications of paying VAT, most farmers, when disposing of the whole or a portion of a farm, would do so by selling the farm or the specific portion as a going concern. The agreements that govern such transactions can be complex. Read the article by Jacques Blignaut, STBB […]

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Trusts – Should You Be Charging Interest On Loans Made To A Trust

When will s7C apply? Clients who have made, as well as those who are considering making, interest-free or low-interest loans to trusts must take note of a recent inclusion to the Income Tax Act (“the Act”). This inclusion comes in the form of Section 7C, which was inserted in the latest Taxation Laws Amendment Act […]

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Dignity, Renovations And Farm Workers’ Accommodation

Earlier this month, the Constitutional Court handed down a judgment dealing with the right of a domestic worker to renovate her dwelling on her employer’s farm at her own expense. The improvements were meant to bring the dwelling to a level consonant with human dignity, but the farm owner had prohibited the builder from proceeding, arguing that his consent had to be obtained for any such activity.

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Worker’s Day

This Worker’s Day, reflect on the impression you leave with colleagues. Do you inspire? Are you encouraging? Do you share your business vision and excitement at the opportunities out there? When last did you say Thanks? Be a better You! Regards, STBB Director Refqah Ho-Yee Tel 021 673-4700 / 082 782 7771 Email refqahf@stbb.co.za

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Solar panels: compliance certificates required?

The Electrical Installation Regulations obliges every user or lessor of an electrical installation to be in possession of a valid Certificate of Compliance for that installation. Does this include solar panels? The definition of ‘electrical installation’ in the regulations is such to generally include solar panel control circuits. A Certificate of Compliance is therefore necessary […]

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Installment sale agreements and loans

There are various options available to parties in a sale of immovable property regarding the structuring of payment of the purchase price. An agreement between a seller and purchaser amounting to the sale of immovable property in instalments, can bring about uncertainty as to the applicability and implications of the National Credit Act (NCA). Whether […]

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Estate agent a “party” to the sale?

Imagine Chris sells his house to Julie with the assistance of Damien, an estate agent. As is practice, all three sign the sale agreement. Chris and Julie thereafter enter into a written addendum regarding the date of occupation, without informing Damien. Does this render the agreement void as all parties did not sign it? No, […]

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Budget 2017

From 1 March 2017, the 1st R900 000 on a property purchase price will be exempt from transfer duty payable to SARS. This equates to a saving of R4500 from last year’s duty. Trusts remain the highest taxed property-owning entities, with income tax increased from 41 to 45%, and capital gains tax hikes from 32.8 […]

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Second Dwelling on a Property?

Effective 1 July 2016, in terms of the City of Cape Town Municipal Planning By-law, 2015 (as amended), all properties which fall within the City of Cape Town Municipality and which are zoned SINGLE RESIDENTIAL 1 (SR1), have an additional use right to erect a second dwelling on such property (within applicable building regulations). Should […]

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The accrual system and a spouse’s death

One is often reminded of the importance of ensuring you have an updated will. Consider, for example, that X marries Y who has children from a previous marriage. They register an antenuptial contract so that their marriage is out of community of property with the accrual system. If X dies without leaving a will, or […]

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