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Misinterpreting transfer duty

8 January 2004

Based on an article in the October issue of Bulletin, the monthly journal of the University of Port Elizabeth's Bureau for Mercantile Law, the report contests the attempt by the finance ministry and Sars to frame the use of the nominee clause as an abuse by some property dealers to avoid payment of transfer duty upon the re-sale of a property.

This imposition of double transfer duty on nominee transactions is not automatically the case as the Appellate Division has made clear, since the crucial questions are whether the buyer has acquired a right to take transfer of the property personally and whether such right has been reserved for the nominee.

Business Report

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