URGENT NOTIFICATION ESTATE AGENCY AFFAIRS BOARD CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PRESENTATION AND ‘LIVE’ DEMONSTRATION ON HOW TO REGISTER ON THE MyCPD ONLINE PORTAL
Mindful of the fact that this notification is giving extremely short notice to principal and non-principal estate agents, the Estate Agency Affairs Board has received a number of requests to conduct a few sessions around the country to assist estate agents with fully understanding the requirements of the Continuing Professional Development Programme (CPD) and to further assist them with the completion and submission of their Personal Development Plan (PDP) to register for the 2015 calendar year (1st year) of the three-year rolling cycle. Continue reading
PwC’s inaugural publication entitled Real Estate: Building the future of Africa considers the impact of global megatrends on the African continent. The aim of the report is to provide an assessment of the current state of the real estate industry across Africa and demonstrate how the megatrends will drive growth opportunities in key African markets.
Click on the link below to download a copy of the report.
Issued by Bowman Gilfillan Africa Group and Edited by Creamer Media Reporter
There are currently no restrictions on the ownership of land by foreigners in South Africa.
However, in President Jacob Zuma’s 2015 State of the Nation address, delivered on 12 February 2015, the President indicated that, in terms of the proposed Regulation of Land Holdings Bill (the proposed Bill) which will be submitted to Parliament during the course of this year, “foreign nationals” will no longer be allowed to own certain types of land in South Africa (although they will be allowed to enter into long-term leases over all types of land). Continue reading
Issued by: EAAB 15 March 2015
All stakeholders are advised that the closing date for the PDE to be held on 07 May 2015 is 24 April 2015.
|07 MAY 2015
||BYTES CONFERENCE CENTRE
||BYTES BUSINESS PARK.BLOCK C.241 THIRD ROAD.MIDRAND
|DURBAN SPA CONFERENCE CENTRE
||57 OR TAMBO PARADE.DURBAN
|CAPE TOWN LODGE
||101 BUITENGRACHT STREET.CAPE TOWN
|PE HEBREW CONGREGATION
||BARRIS WALK.GLEDININGVALE.PORT ELIZABETH
Below is brochure detailing the Finance Linked Individual Subsidy Programme (FLISP)
FLISP Brochure 2015
Following is a Presentation by the EAAB to the Portfolio Committee on Human Settlements
EAAB Presentation Parliament 3 March 2015
CIPC (Company Intellectual Property Commission) previously CIPRO has recently been accredited by the DTi as a BBBEE Verification Agency and that it is now extending its service to include the issuing of BBBEE Certificates.
CIPC will now become the third regulatory body issuing BBBEE certificates over and above Association of BBBEE professionals (ABP) previously ABVA and IRBA Independent Regulatory Board of Auditors.
The announcement also talks of CIPC self-service terminals that will be installed throughout the country with biometric identification at various service centres. This may be an indication of the DTi’s approach solution for affidavits and the issuing of 51%+ black owned EME and QSE BEE Certificates.
Issued by: Property Sector Charter Council – 10 March 2015
Issued: 04 March 2015
ONLY AUDITOR’S REPORTS SUBMITTED ONLINE WILL BE ACCEPTED FOR THE 2015 FINANCIAL YEAR
The financial year end of most estate agency firms of 28 February is upon us and this notification conveys the new requirement in relation to submission of audit reports with effect from 1 March 2015. Continue reading
The EAAB have announced the extension of the upfront CPD fee to 31 May, 2015.
The deadline for submitting the Personal Development Plan (PDP) on the MyCPD portal is 31 March, 2015.
Read more CPD Announcement 4 March 2015
Having said that there is no terrible news there is some gain and some pain. To the average man in the street there is gain and for the wealthy there is unfortunately some pain. The Minister announced that for all sales of immovable property concluded on or after the 1st March of this year the transfer duty tariff is to be amended. The new transfer duty tariff will be as follows: Sale price of property (R) Rate:
|0 – 750 000
|750 001 – 1 250 000
||3% of the value above R750 000
|1 250 001 – 1 750 000
||R15 000 + 6% of the value above R1 250 000
|1 750 001 – 2 250 000
||R45 000 + 8% of the value above R1 750 000
|2 250 001 and above
||R85 000 + 11% of the value above R2 250 000
The current transfer duty tariff is as follows: Sale price of property (R) Rate
|R0 – R600 000
|R600 001 – R1 000 000
||3% on the value above R600 000
|R1 000 001 – R1 500 000
||R12 000 plus 5% on the value above R1 000 000
|R1 500 001 and above
||R37 000 plus 8% on the value above R1 500 000
The new tariff therefore provides homebuyers in middle income households some relief on transfer duties but requires more from those who purchase in the higher price brackets. In a nutshell for sales on or after 1 March 2015, transfer duty will be:
- eliminated for all property acquired up to R750 000 (previous threshold was R600 000);
- decreased for all properties acquired up to around R2.6 million; and
- increased for all properties above R2.6 million.
To demonstrate the impact of these new tariffs a person buying for R2 500 000 would currently have to pay R117 000 and with the new tariff will pay R112 500. If that person buys for R3 500 000 then he would currently pay R197 000 and with the new tariff will pay R222 500.
Mr Milton Koumbatis