Conveyancing Managers

06/12/2017

DEEDS OFFICE CLOSURE

The Cape Town deeds office has confirmed that the last day for registrations of current matters is 21 December. Their offices close on the 22nd.

They open up again on 2 January 2018, but warned that in the first week or so they will have a skeleton staff complement only.

It is likely that the volumes of transactions lodged for registration will increase in the countdown to year end and this will impact on turn-around times in this deeds office.

For transactions with an estimated registration date before year-end, we anticipate lodgment shortly. Please assist us in the process by complying with requests for documents and payments timeously.

Contact your STBB conveyancer should you have further questions.

16/11/2017

The committee also proposes major changes to the ‘pay now, argue later’ rule, which it says is biased in favour of SARS and infringes the right to property enshrined in the Constitution

22/08/2017

The Western Cape is still the dominant housing market in South Africa but it is increasingly becoming unaffordable for first-time buyers.

06/06/2017

“Real estate moves through a cycle of recovery, expansion, hypersupply and recession. How can you use this to your advantage?”

13/04/2017

This is interesting.

02/03/2017

23/02/2017

New budget.

STBB NEWSFLASH | 2017 BUDGET NEWS

2017 BUDGET NEWS

Minister of Finance, Mr Pravin Gordon, delivered the National Treasury’s budget for 2017/2018 this afternoon. The following amendments stand out:
• Super Tax Bracket (Individuals) – 45% on income above R1,500,000 p.a.
• Trust Tax Rate increased to 45% (from 41%)
• Increase to Effective rate of Capital Gains tax for Trusts / Super Tax Bracket
• Dividends Tax increased to 20% (from 15%)
• Withholding Tax for non-resident sellers of fixed property increased to 7.5%, 10% and 15% respectively (from 5%, 7.5% and 10%)
• The value at which property is taxed at 0% is increased from R750 000 to R900 000.
A new bracket of “Super Tax” has been introduced on personal income that levies tax at 45% on income exceeding R1,500,000 per annum. This increases the effective rate on capital gains above this level to 18% (from 16.4%).

The increase in the Trust tax rate to 45% increases the effective rate of CGT for trusts to 36% (from 32.8%).

View the amended personal, transfer duty and CGT tables here.http://www.stbb.co.za/wp-content/uploads/Tax_Rates_2017_Budget.pdf

For more information contact your attorney at STBB.

Cape Town 021 406 9100 | Claremont 021 673 4700 | Fish Hoek 021 784 1580 | Somerset Mall 021 850 6400 | Blouberg 021 521 4000
Tyger Valley 021 943 3800 | Illovo 011 219 6200 | Bedfordview 011 453 0577 | Centurion 012 001 1546 | Stellenbosch 021 001 1170
Fourways 010 001 2632

www.stbb.co.za

31/01/2017

Beware, if you make any kind of change or addition to your home loan, banks will now apply new credit rates that could be higher than what you’ve paid previously.

16/12/2016

13/12/2016

THOUGHT OF THE WEEK

DEPOSITS FOR RENTAL AGREEMENTS

The Rental Housing Act regulates the relationship between landlords and tenants and sets out clear terms for this relationship, as well as procedures to be followed in the event of a dispute arising between the parties.

The Act permits landlords to request a tenant to pay a deposit before taking occupation of the property. The landlord is obliged to invest this deposit in an interest-bearing account with a financial institution. The deposit together with the interest earned (less deductions for any damages), must be paid out to the tenant within seven days of expiration of the lease. A tenant has the right to request from the landlord a written receipt reflecting all payments made, as well as written proof of interest earned on the deposit.

For more information or assistance with rental agreements, contact STBB.

22/11/2016

Deeds Office closure dates over the festive season.

DEEDS OFFICES CLOSURE TIMES OVER FESTIVE SEASON

The Cape Town and Pretoria Deeds Offices have communicated the following changes to usual operations over the festive season:

Last day to lodge to register in 2016: 9 December 2016.

Last day for lodgments this year: 15 December 2016.

Last day for registrations this year: 22 December 2016.

Deeds Office closure: 23 December 2017.

Deeds Office re-opening: 3 January 2017, but only skeleton staff till 6 January.

Normal deeds office operations resume 9 January 2017.

The other registries will follow similar patterns, although this has not yet been confirmed. The slowdown in activities will impact on registration dates and turnaround times.

If you need more information, feel free to contact us at STBB.

03/11/2016

The advent of e-commerce has changed the way consumers shop. In a post-recession world where the majority of consumers are more price-sensitive, shopping online offers them the ideal way to compare p