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SARS and delays

8 March 2007

Amendments to the Transfer Duty Act in 2005 resulted in new Transfer Duty forms, and the ability of SARS to delay the transfer of properties by not issuing a transfer duty receipt, if buyers and sellers do not have their general tax affairs in order. See TD Form presentation, TD form queries, New transfer duty forms and SARS and conveyancers.

Almost two years later, concerns have been raised that these amendments are not common knowledge among buyers, causing estate agents and attorneys to be adversely affected when the buyer's tax affairs are not in order. Generally, however, it is felt that most people have their tax affairs in order so resultant delays would be few. GhostDigest would like to know how this legislation has affected property transactions, what problems have arisen (if any) for conveyancing attorneys, and how they might be avoided.

Send your comments and suggestions to editor@ghostdigest.co.za.

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