Repo Rate Amendment Brings Interest Rate Cuts | 18 July 2019

The Reserve Bank’s Monetary Policy Committee announced this afternoon that it has decided to cut the interest rate by 25 basis points, from 6.75% to 6.50%. This is the first time since March 2018 that the benchmark interest rate has been cut. This will in turn bring the bank interest rates down, and provide some […]

Transfer Duty Certificates: Technical Issues At SARS | 27 June 2019

SARS is presently experiencing technical issues in their processes dealing with applications for Transfer Duty Receipts. This is causing delays in the issuing of these Receipts. As such a Receipt is a requirement for lodgment of a transaction in the deeds registry, this may impact on scheduled transfer dates. We are advised that they are […]

STBB Welcomes Richard van der Schyff And Armand Coetzee | 06 May 2019

STBB is pleased to welcome two new directors to our Gauteng team. Between them, Richard van der Schyff and Armand Coetzee have a wealth of experience in all areas of the South African property industry. They have practiced in areas which will compliment the existing STBB practice and they will help to ensure that STBB […]

Where The Purchaser Obtains Financing From Nedbank: A New Offering | 10 April 2019

We are pleased to advise you , that Nedbank has nominated STBB to partake in their Same Attorney pilot (Transfer & Registration) project with effect from 8 April 2019. In essence the project will ensure that where STBB is attending to a transfer in which the purchaser is obtaining financing from Nedbank, STBB will be […]

Early Accrual Of Income In Respect Of Property Developments | 14 March 2019

The Supreme Court of Appeal has handed down a decision which results in the receipt of a guarantee to secure payment of the purchase price of immovable property, being deemed an accrual of the entire purchase price on the date on which the sale agreement was concluded. We believe that the decision is wrong and […]

City of Johannesburg Council approved the Inclusionary Housing Incentives, Regulations and Mechanisms

On 21 Feb 2019, the City of Johannesburg Council approved the Inclusionary Housing Incentives, Regulations and Mechanisms 2019. Please see a brief summary below: Requirements and Conditions for Inclusionary Housing Inclusionary housing is mandatory for any development application under the jurisdiction of the City of Johannesburg Metropolitan Municipality that includes 20 dwelling units or more. […]

Property Rates Increase? You Can Object

General Valuation Roll for 2018 (GV2018) The current General Valuation Roll, known as GV2018, was certified by the City of Cape Town’s Municipal Valuer on 31 January 2019. It contains the municipal valuations of about 875 000 registered properties in Cape Town, as at the valuation date for the new roll, being 2 July 2018. […]

Urgent: Chief Registrar Circular 1/2019 | 22 February 2019

SUMMARY: CHIEF REGISTRAR CIRCULAR 1/2019 – AMENDMENT TO THE VA PROCEDURE & FORM E CONVENTIONAL TITLES The amendments to the VA procedure take effect on 25 February 2019; Attestation by a notary public is impractical and may cause undue hardship to the public; Publication will be required in a newspaper circulating in the area in […]

Budget News 2019 | 20 February 2019

The new Minister of Finance, the Honourable Mr. Tito Mboweni, delivered the National Treasury budget for 2019/2020 this afternoon. Whilst there were no radical changes in the tax sphere, the following stand out: A small adjustment to income tax thresholds. No adjustment in the income tax brackets for individuals (no inflationary adjustment). No adjustment in […]

East London Office – IT Issues | 20 February 2019

Please note our East London office is experiencing IT issues and as a result have no access to e-mails. We will notify you as soon as the problems have been addressed. In the interim, please contact the branch telephonically on 043 721 1234 or 043 721 0656 to arrange lodgement of matters or for any […]

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