Don't be ridiculous. Thee is no real capital gain. This is called inflation due to currency debasement. An exclusion of R2 million would have been applicable to the affluent when this was introduced - now it is relevant to the shrinking middle class. The house is still the same house. It hasn't reproduced and had flatlets.
This is an ANC wealth tax robbing middle class of their nest eggs. Now the ANC statist criminals are talking about a wealth tax. They already have one.
The ANC are fools to the bitter end. South Africa is capital starved and high interest rates and inflation are the evidence.
The simple reason my son locks his expense bicycle away - to keep the criminal element from getting their hands on it. For the same reason people externalise their capital in South Africa and investors are loathe to venture into anything more than bonds unless the return it sky high.
The ANC are a disgrace and will destroy SA unless oustered soon.
Despite the overwhelming evidence of criminality within the ANC, I don't foresee the status quo changing in a material sense for the foreseeable future.
As many opponents as Zuma has, those have the ability to remove him will not as they too will be dragged down once the extent of corruption/criminality is uncovered.
I understand your anguish, and I have empathy with you as must be a terrible blow when you leave a country with racism issues to settle in a country that categorize their Aboriginal citizens under "fauna and flora".
The Aboriginal nation formed 100% of the population in Australia before you killed them with disease and alcohol and by hunting them like animals. All of Australia belongs to the original inhabitants.
In South Africa we have a society where there is mutual respect and equal opportunity far all, and we have done much to redress the past.
You lock up your original people in reserves, feed them alcohol and keep them out of the economy. They have got a claim on you property in Sydney, there is a "land-claim" on your property, you merely haven't realized it yet.
Be a moral human being and put your money where your mouth is, donate your house to your Aboriginal brothers. By doing that you may gain the right to post advice here.
Finally a sensible article about land, without politics and white hatred mixed into it.
As we farmers have been saying for years, use the state owned land plus the 4000 farms recently purchased by government, that will put us way down the road to establishing successful black farmers.
Let me remind those of you that think farming is fun. it has its moments but in an arid country such as SA it is a very high risk business that yields low returns. Any accountant will tell you to sell up and invest your capital. We farm because we love working with livestock, plants, working with the weather the list is endless, but is everybody cut out for it.
fighting raging veld fires is not fun, it takes strict self discipline to motivate yourself and staff everyday. There is no boss or set working hours. We have to provide our own pensions and medical aids no help from the company. We put high mileage onto our vehicles always starting on a dirt road and travelling a long way to get anywhere. We don't have easy access to city entertainment, we live solitary lives miles from your neighbor. Often termed the most dangerous occupation in SA.
We look after livestock come hail, snow or floods often assisting livestock births in foul weather.
We are the custodians of a natural resource that can be turned into a desert in one season and can take years to recover.
So the town dweller when you wish you could go farming remember it is certainly not for sissies, half our income and sometimes it is negative is our way of life, if you can handle curved balls on a daily basis with the odd cherry on top then fine you may make a farmer.
Such an important topic to dissect without a political agenda & brainstorm (as the Nampo group has been doing)continuously with ONLY one thing in mind - to create an agricultural sector where unsubsidized farmers in a water restricted land can feed our nation.
To expect the entrepreneurial drive our commercial farmers have developed over the last 300 years to be transplanted in a matter of 23 years is at best wishful thinking - especially since corruption & self gain has been largely left unchecked. Our unsubsidized commercial farmers can properly ranks amongst the best in the world. The focus should be on education /stimulation & reward based PURELY on merit! Mentorship should be stimulated and rewarded - the successful "pupils" should also be rewarded with state purchased land....not because they as previously disadvantaged have tried....but ONLY because they have succeeded.
The results of unchecked affirmative action has been laid bare in MANY news reports about farms which has been run down / became non-productive nightmares.
ONLY when "new" black farmers will be adding real value in a meaningful volume (creating wealth for themselves & indirectly their community) ....only then will farming land become an asset which will ensure our country's future & NOT a "tool within a political agenda"!
All supporters of the ANC are striving to become part of the "parasitic bourgeoisie". Those who vote for the ANC are knowingly and voluntarily supporting a criminal enterprise.
For us to expect the ANC to reject Zuma and cleanse itself of corruption is like believing that ANC supporters will start thinking like DA, IFP, Cope, UDM and FF+ supporters. It won't happen.
The ANC supporters with a conscience and actual skills other than to loot and plunder, will leave the ANC and vote for the opposition. The aspiring criminals without any skills, will remain as ANC supporters.
Not yet...I hope.
A lot will depend on what happens this weekend. A turning point will be if Zuma is recalled.
This may be dependent on Cyril to actually stand up and (aggressively) take on Zuma in the NEC.
Another aspect to keep in mind is that we have now seen three credible state capture reports and a media that have reported freely and fearlessly to expose the Zupta network. The judiciary also remains uncaptured. This means that a few institutions are holding up as the last defence, and I think they will prevail.
So I agree that we are close to rock bottom, but if there is a positive outcome this weekend... we may just see a bounce.
Read the whole report... although it is not bedtime reading, it is pretty good.
Stick to Sydney Robert - your stats are hopelessly wrong 90/10 - and divert your energies to your new home country ... educate yourself about your chosen country here ... http://atlantablackstar.com/2015/06/09/8-facts-may-not-know-extermination-australias-aborigines/
The sins of Apartheid were many and those of us with the courage to remain here must endure the ramifications for decades to come - but at least our former governments, much as many of us may have deplored them ... did not resort to the wholesale slaughter of the indigenous people.
The article makes perfect sense ESPECIALLY here in South Africa.
I think CLUELESS is busy negotiating terms for his exit. We must not fall for an emotional exit, but make sure he is criminally prosecuted to bring down the CLAN as well. Therefore, we must all support the DA (or any other party/entity) that decided/plans to take him to court. The evil in government must be rooted out. We are not a failed state, we do have a lot of potential as a nation and we are currently under performing our full potential simply due to our leaders that sold their souls to be devil.
I find the title of this article very interesting. Unfortunately, the content is very basic and of poor guidance. It seems the property is already paid for to a large extend (otherwise there would not have been much money left for further investment).
Agree with the readers suggesting he must leverage the property (withdrawn cash to increase 'debt' to ensure no profit for tax purposes) and use the cash to re-invest (buy more property, buy shares, etc.).
Note: best ROI is if property is bought with the bank's money and paid back with tenant's money. This is a long term investment. Suggest all property investors do the calcs or get someone to do it. You'll find very little other investments (even shares in good times) that will beat your returns. However, i do think it is important to diversify and do a proper risk analyses before investing in one asset class.
CLUELESS MUST GO! We have learnt (long, long ago) that he cannot be taken at his word. Even of the NEC outcome is that he must step down he will renege. He will say that only parliament may remove him.
So, regardless of the final decision today the NEC meeting will end up being a waste of time – UNLESS there is a sufficient groundswell that results in floor crossing in the forthcoming ‘vote of no confidence’ – secret ballot or not. Hopefully enough of the NEC members have nailed their flags to the mast to make the nature of the ballot purely academic. BUT ONLY IF COURAGE IS SHOWN WHERE IT ULTIMATELY COUNTS – anything short of that boils down to mere posturing and further agony for the SA public.
Yes. ANC tax rules for their senior people are different to those who belong to private pension schemes or who are still at the bottom of the pile.
Normal "rules" don't apply. If they might get caught, they simply spread large amounts over a number of years. If BM had accepted R2 million a year for 15 years, no-one would have noticed. Considering he would want to take "early retirement" owing to ill-health, he could easily have arranged that a la Schabir Shaik method.
Good question.............who has the answer.
No good phoning SARS as they just always give the answer that is most detrimental to you......that is if you are actually lucky enough to even get a reply after 4 case references not responded to.
I would have thought only capital improvements would apply to 1st residence.