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If you have a spare room, holiday house, apartment or indeed any type of residential property available to let out as a short-term rental, consider using online platform Airbnb.
Its popularity is soaring, and you could boost your income significantly.
Just bear in mind these 3 important factors. We start off by discussing the tax angle …
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We buy and sell things every day, and no doubt most of us assume that it is only when we become the owner that we take the risk of our purchase being damaged or destroyed.
But that isn’t always so, and you could face substantial losses if you aren’t aware of the fact that in our law, passing of ownership and passing of risk are two different concepts, and they may not be simultaneous.
We discuss the case of a buffalo which, after being sold for R1m, died during a darting operation before delivery to the buyer. Who bears the loss in such a case?
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“Everybody”, sang Rodriguez in the Seventies, has “got to pay their dues”.
That’s true, but property sellers were until recently at risk of having to overpay rates and taxes to their local municipality.
We discuss a recent Supreme Court of Appeal decision dealing with just such a case, where a seller paid R1m in future rates “under protest” and then sued for a refund.
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