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Welcome at Take a property break with Cicile. This is an interactive platform where potential buyers and sellers can discuss interests and happenings in the property market. Write your comments, post a question, send me an e-mail or give me a call. Enjoy!
January 29, 2014
Thought for today
"It is your decisions about what to focus on, what things mean to you, and what you're going to do about them that will determine your ultimate destiny." Anthony Robbins
November 20, 2012
Electric Fence system certificates of compliance
The purpose of this article is to inform you of the latest developments in terms of the Occupational Health and Safety Act, Act No. 85 of 1993, as applicable to the change of ownership of immovable property.
An obligation to have an electric fence system certificate of compliance is imposed by Regulation 12 of the Electrical Machinery Regulations, on anyone using an electric fence system to have an electric fence system certificate of compliance.
A system that has come into existence prior to 1 October 2012 is not required to have an electric fence system certificate. However, as with an electrical compliance certificate, it will be required where an addition or alteration is effected to the system or there is a change of ownership of the premises on which the system exists if the change of ownership takes place after 1 October 2012.
The electric fence system certificate and electrical compliance certificate are two separate certificates and therefore the electric fence system certificate is an additional requirement for a property that has an electric fence system.
An appropriate clause must be included in Sale Agreements which are concluded after 1 October 2012 where there is an electric fence system on the property. When a transfer is registered after 1 October 2012 there will be an obligation to provide an electric fence system certificate. It will be necessary for an electric fence system certificate to be issued where there is an electric fence system on a property and where that property is currently in the process of being transferred.
The good news is that the electric fence system certificate is transferable. And once it has been issued, there is no need to obtain a new one upon a change of ownership.
Written by Neil Barker - Burmeisters de Lange Sonic inc.
An obligation to have an electric fence system certificate of compliance is imposed by Regulation 12 of the Electrical Machinery Regulations, on anyone using an electric fence system to have an electric fence system certificate of compliance.
A system that has come into existence prior to 1 October 2012 is not required to have an electric fence system certificate. However, as with an electrical compliance certificate, it will be required where an addition or alteration is effected to the system or there is a change of ownership of the premises on which the system exists if the change of ownership takes place after 1 October 2012.
The electric fence system certificate and electrical compliance certificate are two separate certificates and therefore the electric fence system certificate is an additional requirement for a property that has an electric fence system.
An appropriate clause must be included in Sale Agreements which are concluded after 1 October 2012 where there is an electric fence system on the property. When a transfer is registered after 1 October 2012 there will be an obligation to provide an electric fence system certificate. It will be necessary for an electric fence system certificate to be issued where there is an electric fence system on a property and where that property is currently in the process of being transferred.
The good news is that the electric fence system certificate is transferable. And once it has been issued, there is no need to obtain a new one upon a change of ownership.
Written by Neil Barker - Burmeisters de Lange Sonic inc.
March 23, 2012
House for Sale in Sunridge Park, Port Elizabeth - R1.6million
Don't miss out ons this spacious family home situated in one of PE's sought after suburbs. It is a versatile home with guest house potential. It comprises (including the granny flat) of 4 bedrooms, 4 bathroom areas, 4 living areas and 4 undercover parking spaces. The granny flat can accommodate the extended family and/or be utilized as an home office. This is a home worth viewing.
July 25, 2011
How do Sellers find Real Estate Agents?
48 % Through referrals from friends and family.
10 % Through the internet.
9 % Through repeat customers.
6 % Through show houses and For Sale boards.
5 % Through walk / call in customers at the office.
3 % Through company referrals.
3 % Through personal contact.
1 % Through the printed media.
1 % Through direct mail.
- Stats by Ed Hatch from Ed Hatch Seminars, Inc.
10 % Through the internet.
9 % Through repeat customers.
6 % Through show houses and For Sale boards.
5 % Through walk / call in customers at the office.
3 % Through company referrals.
3 % Through personal contact.
1 % Through the printed media.
1 % Through direct mail.
- Stats by Ed Hatch from Ed Hatch Seminars, Inc.
July 4, 2011
Christmas in June
On behalf of RE/MAX Algoa, I want to congratulate the Independent office on the hosting of a successful Christmas in June function held at the Seasons Restaurant. All proceeds were donated to the Reach for a Dream Foundation. Last but not the least, a big THANK YOU to Kaplan Blumberg Attorneys for the invitation. It really was a joyous evening!Seated from left to right is Mac Njamela (Ukhanyo Properties), Simphiwe Stefane (RE/MAX Algoa Properties), Laurika la Grange (Kaplan Blumberg Attorneys), Cicile and Robert van Dijk (RE/MAX Algoa Properties) and Amanda Njamela (Ukhanyo Properties).
June 10, 2011
FOR SALE - R950 000 Morningside, PE
Claim this top class designer home with high quality finishes today. It offers 3 bedrooms with built-in cupboards, a study, 2 full bathrooms (mes), 2 living areas, double garage on remote, kitchen and a braai area on a corner plot in a sought after security complex. We are waiting for your call.
Capital Gains Tax (Terminology) (Government Tax)
Capital Gains Tax is Government Tax that you pay on the profit you made from the sale of your assets. You are only liable to make payment of Capital Gains Tax on the disposal of your asset by means of selling, giving it away, destroying it or even losing it.
Assets that are excluded from Capital Gains Tax are:
If you sell your house (primary residence, ie the house which is personally occupied by you) for an amount of R2 000 000,00 or less and / or if you sell your primary residence for a profit or loss of R1 500 000,00 or less, the sale will be exempted from Capital Gains Tax;
Personal belongings (eg motor vehicle, caravan, artwork, furniture and household appliances) used for non-trade purposes;
Pension-, Provident- and Retirement Fund payments;
Life Insurance Policies;
Compensation for personal injury and illness; and
Prize winnings (eg: lotteries, gambling, etc.).
Assets that are excluded from Capital Gains Tax are:
If you sell your house (primary residence, ie the house which is personally occupied by you) for an amount of R2 000 000,00 or less and / or if you sell your primary residence for a profit or loss of R1 500 000,00 or less, the sale will be exempted from Capital Gains Tax;
Personal belongings (eg motor vehicle, caravan, artwork, furniture and household appliances) used for non-trade purposes;
Pension-, Provident- and Retirement Fund payments;
Life Insurance Policies;
Compensation for personal injury and illness; and
Prize winnings (eg: lotteries, gambling, etc.).
What is the difference between VAT and Transfer Duty when buying immovable property ? (Government Tax)
If the seller is a developer and a registered VAT vendor, then VAT is charged on (and included in) the purchase price of the property and transfer duty is NOT payable.
If the seller is not registered for VAT, transfer duty is payable on the purchase price of the property and not VAT, but the transfer duty is NOT included in the purchase price.
If the purchaser is registered for VAT, the VAT paid on the transaction to another vendor can be claimed back from SARS (or the amount of the transfer duty from a non-VAT vendor).
If the seller is not registered for VAT, transfer duty is payable on the purchase price of the property and not VAT, but the transfer duty is NOT included in the purchase price.
If the purchaser is registered for VAT, the VAT paid on the transaction to another vendor can be claimed back from SARS (or the amount of the transfer duty from a non-VAT vendor).
Value Added Tax or VAT (Terminology) (Government Tax)
What is VAT ?
It is Government Tax charged by a vendor (eg. developer) who is registered for VAT, on the supply of goods and services, which is payable to the Receiver of Revenue at the standard rate of 14%.
There are two types of taxes in South Africa, namely direct and indirect taxes. Direct taxes consist of Personal Income Tax, Company Tax, and Capital Gains Tax. Indirect taxes consist of Value Added Tax (VAT) and Customs Duty.
Who has to register for VAT ?
Every natural person, trust, company, close corporation or partnership who produces goods or services and expects to generate an annual turnover of R1 000 000,00 or more, needs to register with the Receiver of Revenue as a VAT vendor.
How is VAT charged or claimed back ?
Customers buying products and services pay Output Tax and vendors buying materials and services from other vendors pay Output Tax.
It is Government Tax charged by a vendor (eg. developer) who is registered for VAT, on the supply of goods and services, which is payable to the Receiver of Revenue at the standard rate of 14%.
There are two types of taxes in South Africa, namely direct and indirect taxes. Direct taxes consist of Personal Income Tax, Company Tax, and Capital Gains Tax. Indirect taxes consist of Value Added Tax (VAT) and Customs Duty.
Who has to register for VAT ?
Every natural person, trust, company, close corporation or partnership who produces goods or services and expects to generate an annual turnover of R1 000 000,00 or more, needs to register with the Receiver of Revenue as a VAT vendor.
How is VAT charged or claimed back ?
Customers buying products and services pay Output Tax and vendors buying materials and services from other vendors pay Output Tax.
May 22, 2011
What is an Agreement of Sale (Terminology)
It is a legal written contract between a buyer (one party) who agrees to buy, and a seller (another party) who agrees to sell a said property with specified terms and conditions and signed by both parties. It is also known as an Offer to Purchase or Deed of Sale.
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