Newsflash Archives - Page 5 of 19

Newsflash | The FIC pleads for compliance: Urgently submit outstanding RCRs

In a key statement released last week, the Financial Intelligence Centre (‘the FIC’) urges designated non-financial businesses and professions (‘DNFBPs’), including estate agents and legal practitioners, to urgently comply with their reporting obligations to support South Africa’s efforts in exiting

Newsflash | Parliament approves National Budget: Answering your key property-related questions on VAT

Amid extensive political debate over the proposed VAT hike, the Fiscal Framework for the 2025/26 National Budget was narrowly passed by Parliament last week. With the staggered VAT rate increase of 0.5% set to take effect on 1st May 2025,

Newsflash | Employment law update: New earnings threshold takes effect today

For the fifth consecutive year, the Department of Employment and Labour has elected to increase the earnings threshold from R254 371.67 per annum to R261 748.45 per annum, with effect from today, 1st April 2025. Designed to safeguard lower-earning employees

Newsflash | Just in: SARB declines to lower the repo rate

Moments ago, the Monetary Policy Committee of the South African Reserve Bank (‘SARB’) concluded its second meeting of 2025. As predicted by most economists, SARB elected to keep the repo rate at 7.5%, effective 21st March 2025. Accordingly, the prime

Newsflash | Ushering in a digital era: The EDRS Act will soon be fully operational

Expected to revolutionise a traditionally paper-based system, the Electronic Deeds Registration Systems Act (‘the EDRS Act’) will be fully operational in less than two weeks’ time. Last Friday, government published Proclamation Notice 250 of 2025, confirming that sections 1, 3,

Newsflash | The National Budget Speech: Crunching the Numbers

Earlier this afternoon, Finance Minister Godongwana tabled the much-anticipated 2025/2026 National Budget Speech (‘the budget’). After an unprecedented postponement triggered by widespread disagreement within the Government of National Unity over a proposed 2% VAT hike, the budget contained the following

Newsflash | Important notice: The FIC issues request for accountable institutions’ RMCPs

Earlier this week, the Financial Intelligence Centre (‘the FIC’) issued a notice advising accountable institutions of a general request to submit a copy of their current Risk Management and Compliance Programme (‘RMCP’) to it by close of business on Wednesday,

Conveyancing Correspondent | Deeds Registry fee increases scheduled for 1st April 2025

On Friday, the Minister of Land Reform and Rural Development published the anticipated annual amendment to the Schedule of Fees of Office, as prescribed by the Regulations to the Deeds Registries Act. The amendments, which apply nationally and are scheduled

Newsflash | The Master’s Office goes digital: Online estate adverts permitted

Last week, the Department of Justice and Constitutional Development released a landmark Chief Master’s Directive (‘the Directive’) regulating the placement of online estate advertisements. In a move that recognises the growth of digital platforms and the decline of traditional print

Newsflash | Labour law update: New minimum wage kicks in next month

Yesterday, the Minister of Employment and Labour gazetted an amendment to Schedules 1 and 2 of the National Minimum Wage Act. Effective 1st March 2025, the national minimum wage will increase from R27.58 per hour to R28.79 per hour, which