What are the requirements for a property to be sold as a going concern (0% VAT payable)?

Author

Melanie Coetzee

Both the seller and the purchaser as described in the Offer must be registered for VAT;
There must be a VATable business being conducted at the property which is being sold as part of the property (like a lease); and
the VATable business must also be sold from seller to purchaser.

Financial Property News

Industry

South Africa to Tighten Bank Disclosure Laws on Home Loans

29 Aug 2024

The government is considering stricter regulations to compel banks to disclose more detailed information about their home loan-lending practices. The aim is to boost access to home loans, particularly for previously disadvantaged groups, Human Settlements Minister Mmamoloko Kubayi said during a briefing in Pretoria.

Industry

MyProperty launches unparalleled home loan rewards program for buyers

13 Sep 2023

Buying a home often involves many unforeseen costs, including the cost of moving, and cleaning, along with small repairs and improvements. In response to this, MyProperty has launched an unrivaled cash back rewards program to assist home buyers.

Industry

Are complexes, estates, and gated communities the government’s next target for BEE?

08 Aug 2023

Speaking at the inaugural Community Schemes Ombud Service (CSOS) Indaba in Johannesburg last week, Minister of Human Settlements, Mmamoloko Kubayi, said that the growing community housing schemes sector needs to be transformed to be more inclusive on various levels.

Industry

Money laundering risks on the rise in real estate

05 May 2022

Property practitioners in South Africa have been identified as potentially vulnerable to money-laundering and terrorist financing (TF) activities. This was revealed by the FIC (Financial Intelligence Centre) in their recent Assessment of the inherent money-laundering and terrorist financing risks impacting the real estate sector report.