Paddocks Press is a monthly free digital newsletter published to educate and update the sectional title community. The issue (Volume 7, Issue 9) has a number of articles of interest, including:
PMR 31 and special levies - Anton Kelly
STSM and CSOS Acts, not yet in operation
We have realised over the past few weeks that there seems to be some confusion surrounding the use of the Sectional Titles Act and the prescribed management rules. Firstly, the Sectional Titles Schemes Management Act, although signed into law by the State President, is not yet in operation. The second area of confusion is about special levies.
In this article, Anton clears up the confusion around the Sectional Title Scheme Management Act and special levies.
Are exit levies taxable? - Clint Riddin
Exit levies and retirement schemes
In recent issues of Paddocks Press we visited the new Interpretation Note 64, which deals in detail with how SARS taxes a property community scheme. A new development in these schemes, particularly retirement schemes, is an exit levy that is payable when a unit is sold, and a “capital” contribution that is paid to the scheme based on a formula usually contained in the rules.
In this article, Clint sheds some light on the exit levies, particularly in connection with retirement schemes.
Paddocks Club - The growing community - Kate Blake
In operation since January 2011
The Club, which is headed by Prof Graham Paddock, was set up to help members get answers to their questions about sectional title, home owners' associations and other types of community schemes. We currently have over 270 Community Members; everyday there is something new, it is a real joy to watch the Club, and its members, grow.
In this article, Kate, the Club facilitator, tells you a little bit more about the Club and the value in being apart of this growing community.
Q&A with the Professor - Prof Graham Paddock