Residential
Tax clarity for share block property schemes
Realestateweb reporter
12 February 2009
You won't have to choose between transfer duty, VAT or neither when you invest in a real estate share block scheme - law change on cards.
Investors in share block schemes will soon no longer have to figure out whether they must pay transfer duty, Value Added Tax or neither - the government will do it for them.
The 2009/2010 tax proposal is for the law to be clarified so that at least one form of indirect tax applies to this special form of interest in underlying real estate.
This is just one of several proposals to amend legislation around VAT, it emerged during the presentation of the National Budget 2009 to Parliament.
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