A property’s ‘default’ land use rights are contained in the applicable town planning scheme. Each municipality has one (or more) and they only apply to a certain area. These town planning schemes essentially dictate what uses a piece of land can lawfully be put to.
The area of zero-rated VAT for a commercial property transaction can be confusing and must be properly understood if one wishes to avoid confusion and delays. “Previously, it was common industry practice that a brief clause or addendum was utilised with the agreement of sale for a commercial property transaction in order to apply for the zerorating of VAT. These previously used methods are, however, no longer acceptable due to a more stringent set of requirements by SARS.
In this global era of geopolitical unease, high-net-worth individuals (HNWIs) seeking to safely protect their funds and families are feeling the call of a country that has notched up more than 200 years of neutrality.
Is it time for commercial tenant payment performance to get a little worse before it gets better? At present, it is tough to gauge the direction of the South African economy, which has a strong influence on the rental payment performance of commercial property tenants.
Could Tenant Payment Performance be Nearing an Improvement? Since around 2014 we have witnessed a gradual deterioration in tenant payment performance nationally.
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