Rebosa 5 December 2018 Report

Dear Colleagues

The Ship has Sailed … Almost

The National Assembly unanimously passed the Property Practitioners Bill on Tuesday 4 December 2018.

Please refer to our report of 23 November 2018 in which we highlighted the challenges.  See below.

This is however, not the end of the road.  The bill still has to be passed by the National Council of Provinces.  This will only happen next year when Parliament sits again and after which the President can still consider same before signing the Bill into law.

Rebosa will still do everything humanly possible to effect the necessary changes we have been lobbying for.  Below please find the latest and still valid Rebosa comments (with highlighted paragraphs) on the Bill’s current version.  There is a long way to go.

Rebosa Property Practitioners Bill Highlighted Comments 5v Dec

For those of us wishing to blame government for what is lacking/wrong in the Bill, must please note that the Bill was passed unanimously.  This effectively means that all the opposition parties also agreed to pass the Bill.  This is therefore not just a government issue.  

Read moreRebosa 5 December 2018 Report

REBOSA 23 November 2018 Report

Dear Colleagues

Property Practitioners Bill

Our government started discussions around changes to the Estate Agency Affairs Act in 2006 when the Department of Trade and Industry still took responsibility for the real estate industry.

Almost 12 years later, there is urgent unprecedented activity in the Portfolio Committee on Human Settlements having meeting after meeting on the Property Practitioners Bill.  This committee has now almost completed its work after which the Bill will go to the National Assembly and to the National Council of Provinces for tabling and debating, thereafter to be signed into law.

We have grounds to believe that there is some urgency to make this all happen before the end of the year.  

Read moreREBOSA 23 November 2018 Report

Rebosa 30 October 2018 Report

Colleagues

IMPORTANT DATES TO REMEMBER : See below

31 October 2018
1April 2019

FFC Renewal

This serves as a reminder that FFCs are due for renewal on 31 October 2018.

We would like to reiterate that it is extremely important that you renew and pay for your 2019 FFC, even if you have been blocked due to late audit submission or not being CPD compliant or for any other reason.  This will alleviate you of any further penalties.  

Read moreRebosa 30 October 2018 Report

Rebosa 14 September 2018 Report

Dear Colleagues

Please take special note of the regional Stakeholder Engagement Sessions which form part of the public participation process on the Property Practitioners Bill, that will be taking place from 18 September.

 

Property Practitioners Bill

On 4 September 2018, Rebosa was invited by the Chairperson of the Portfolio Committee on Human Settlements to make a verbal presentation on our comments and recommendations on the proposals contained in the Property Practitioners Bill.

Below, please find Rebosa’s full submission on the PP Bill as well as the speech delivered by the Chief Executive.

REBOSA Property Practitioners Bill Commentary 2018

Jan le Roux Speech Portfolio Committe BILL – 04092018

Read moreRebosa 14 September 2018 Report

REBOSA 31 August 2018 Report

AFFIDAVIT = BEE CERTIFICATE WHEN TURNOVER DOES NOT EXCEED R 2,5 MILLION PER ANNUM

Please be advised that it is stated in Section 8.6 of the Property Sector Code that:

An EXEMPTED MICRO ENTERPRISE (“EME”) is only required to obtain a sworn affidavit or certificate from the Companies and Intellectual Property Commission (CIPC) on an annual basis confirming the following:-

8.6.1     Annual turnover based on the EME threshold table

8.6.2     Level of black ownership

We have tested this and it appears that CIPC does not issue such affidavits or certificates.  

Read moreREBOSA 31 August 2018 Report

REBOSA 7 August 2018 Report

Dear Colleagues

This report largely focusses on legislation that is currently before Parliament or already enacted and which commencement dates are imminent.  We therefore urge you to peruse the following carefully and ensure that your Companies are prepared.

Should you have any concerns or queries you need clarity on, you are welcome to email me on info@rebosa.co.za

Kind regards

Jan

Property Practitioners Bill

A slightly revised Bill was published on 31 May 2018 and introduced to the National Assembly on 14 June 2018.  The Portfolio Committee on Human Settlements invited interested people and stakeholders to submit written comments on the Property Practitioners Bill [B 21 – 2018] by Friday, 10 August 2018.  Rebosa consulted with their attorneys and submitted further comment in line with our previous commentary.

We will keep you informed as this process unfolds.  

Read moreREBOSA 7 August 2018 Report

REBOSA 29 June 2018 Report

Dear Colleagues

Property Practitioners Bill

On Tuesday 26 June, the Department of Human Settlements briefed the Parliamentary Portfolio Committee on Human Settlements on the Property Practitioners Bill [B21-2018].  The Portfolio Committee is going to embark on a public participation process where the public will have an opportunity to interact with the committee on the Bill.  Rebosa will be participating in this process and will notify all our members in due course.  Please see the press release from the meeting below.

PP Bill Press Release  

Read moreREBOSA 29 June 2018 Report

REBOSA 10 April 2018 Report

Pam Golding 

It was with great sadness that we learnt of the passing of Pam Golding.  Mrs Golding was a truly remarkable women.  She built a thriving global property business that earned her place as one of Africa’s leading businesswomen – all whilst maintaining her effortless grace and charm and never losing sight of her exemplary levels of ethics and integrity.  She has left a wonderful legacy for the next generation of female entrepreneurs to follow.  We extend our deepest sympathies to Andrew, Peter and Jill, the Pam Golding Group family and her many colleagues and friends.

New Minimum Wage Provisions

The introduction of a national minimum wage is expected to increase the earnings of more than six million working South Africans. Under the new law, employers will have to pay their staff a minimum wage of R20 an hour.   

Read moreREBOSA 10 April 2018 Report

Rebosa 20 March 2018 Report

Dear Colleagues

VAT:  IMPLICATIONS FOR REAL ESTATE TRANSACTIONS

The VAT rate has increased to 15%.  Please read article below courtesy of John Gilchrist, Director: Property Law Publications.  This article supersedes all previous correspondence sent by Rebosa on the VAT issue.

VAT 15% ARTICLE – Rebosa 19032018

 

CONTINUOUS PROFESSIONAL DEVELOPMENT

It is really most unfortunate that in the 4th year of CPD we still have to communicate that the whole endeavour remains fraught with difficulty.  

Read moreRebosa 20 March 2018 Report