Drowning in old Debt?

Drowning in old Debt?

Legal
If you are being chased for an old debt which you just cannot pay, consider whether it may have “prescribed” – if so, the debt is extinguished and you cannot be forced to pay. Most debts prescribe after 3 years (up to 30 years for some debts such as judgments, tax debts and mortgage bonds) unless interrupted in some way - usually if you acknowledge liability for the debt or make a payment against it, or if summons is served on you. (more…)
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The new Transfer Duty Rates: Will you pay more, or less?

The new Transfer Duty Rates: Will you pay more, or less?

Legal
In a nutshell, the transfer duty tax breaks announced in Budget 2015 will reduce costs for most middle-income households but will increase costs of property transactions above about R2,65m (with maximum savings at about the R2m to R2,3m level). Remember, that no transfer duty is payable when the sale is subject to the payment of VAT. (more…)
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