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.
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.
The EAAB is still experiencing IT problems and we have now been informed by various members that:-
- Linking payments remains problematic
- Previously allocated CPD points “disappear”
- E-Learning is not yet available although the calendar of events is available and can contact sessions can be booked
Please note that we are aware of these problems and I have again met with the CEO of the EAAB and a number of their officials on Friday 16 March to address same.
Please rest assured that should the industry ever run into timing difficulties as far as CPD is concerned, the EAAB will be reminded of this discussion.
As we have advised before, we strongly urge you to take screenshots of all your dealings with the EAAB as proof of the difficulties you experience, as this is also helpful to us when addressing your queries with the EAAB. Save screenshots of FFC’s, CPD points credited etc.
We have been informed by the EAAB that an implementation date around October this year will be communicated to the industry soon and that adequate training will be made available, amongst other opportunities, through CPD. We have shared our draft documentation with the EAAB but same is still under consideration. In view of this, you do not have to comply with the new guidelines as yet. We will communicate further information as we know more. Please watch out for notifications from the EAAB.
REBOSA WEBSITE EAAB QUERY FORM
Given the regular dysfunctionality of the EAABs website, their inability to link and process payments for CPD and FFCs and numerous queries relating to the Self-Assessment, Rebosa is inundated with requests to assist members. Last month alone we received over 2 600 emails. As you can understand this is a large volume of queries to attend to and in many instances our members do not send us the correct information required to assist them, leading to further correspondence.
In addition, the EAAB have again informed us that they will not address any of our queries unless the agent has submitted an online query and received an online query reference number.
As a result we have streamlined our own query system and we will launch a query form on our website www.rebosa.co.za. In future, should you require our assistance with the EAAB, kindly complete the form including your EAAB online query reference number directly on our website. We will then continue to follow up on all queries. It will therefore not serve any purpose to email us directly as this will be the only manner through which any assistance will be possible.
In the interests of time and avoidance of duplication, we believe this will be the most effective way of resolving your queries going forward. Given the demands of the EAAB we have no choice but to follow this route.
We would again like to remind you that while we will do our utmost to assist, we do not have access to the EAAB’s IT system or backroom. It is therefore beyond our control when the EAAB do not respond to us timeously.
MOTION: LAND EXPROPRIATION WITHOUT COMPENSATION
We have received many comments and enquiries in this regard. Rebosa has not taken a formal position on the latest developments but has always been protective of property rights.
Below is an article by Jonathan Jansen, giving a very informative view.
Below is a FIN 24 article for detailed background.
REBOSA INFORMATION/PARTICIPATION MEETINGS
We will be embarking on a series of meetings around the country commencing in April. All members will receive invitations to these meetings and we would urge you to support them in the interests of important events and happenings in the industry vis-à-vis the Property Sector Charter, Property Practitioners Bill and Financial Intelligence Centre Amendment Act.
These are free events and non-verifiable CPD points can be earned, subject to booking online.
Many colleagues commented and suggested that Rebosa must “do” something in view of the considerable year on year increases by P24. Suggesting same is anti-competitive etc. and not possible. It is incumbent on each agency to negotiate rates or support an alternative portal.