IEASA National - News

Do not falsify or destroy sales documents to take advantage of the new transfer tax levels   Article Date :7 Mar 2006 Comments from IEASA National President Bill Rawson It would be unwise – and unethical – to try and change property sales documents to take advantage of the new levels on transfer tax, warns Bill Rawson, President of the Institute of Estate Agents – and to do so, he said, is criminal. “The Deeds Office will be scrutinising all sales documentation for the next ten months and if there is evidence that sellers and/or their agents have altered the sale date to put it after 1st March, they will take action,” said Rawson. “We urge agents not to give way to this temptation.” As has been widely reported – and widely praised in the press, the latest budget has raised the level at which transfer tax does not apply from R190 000 to R500 000 and reduced the tax on homes in the R500 000 to R1 million bracket by significant percentages. “I can understand people’s resentment at missing out on savings,” said Rawson, “but it is a fait accompli and those who bought in the last few months have to accept it.” CLICK HERE TO RETURN TO THE MAIN NEWS PAGE