AF - 2020

House prices falling despite increased demand – 23 June 2020

According to Multinet Home Loans, the bond originator has seen an unprecedented increase in home loan submissions since the Level 5 lockdown in April. Multinet Home Loans has seen a 36.57% increase in submissions vs 2019 numbers in June, whilst home prices have shown a real decline of 12% in June so far, taking predicted inflation into account…

Navigating property finance in the current economic climate – May 2020

With lockdown and its economic fallout causing untold damage to the economy, more and more South Africans are finding themselves on unpaid leave, reduced salary packages or laid-off entirely. This is placing many homeowners under severe stress when it comes to keeping up with their mortgage repayments and could well be deterring new buyers from entering the market as well…

PROPERTY RATES INCREASE: YOU CAN OBJECT – 12 August 2020

The City of Cape Town updates the general valuation roll every three years to assess and adjust as necessary the current worth of immovable property within its jurisdiction. If the value of an immovable property is adjusted upwards, it may result in an increased rates liability for the property owner…

RETIREMENT FUND CONTRIBUTIONS AND THE COVID-19 VIRUS – 30 March 2020

Section 13A of the Pension Funds Act compels employers to pay the retirement fund contributions deducted from an employee’s salary as well as the employer’s contribution to the retirement fund in question within seven (7) days of the end of the month for which such contributions are being deducted…

TRANSFER DUTY Rates from: 1 March 2020

Wednesday, 26 February 2020: Minister of Finance, Mr Tito Mboweni, delivered the National Treasury’s budget for 2020/2021 this afternoon… Transfer Duty Rates: No Transfer Duty payable on Property purchased, up to and including: R 1 000 000