NATIONAL BUDGET SPEECH 2012

key points for financial planning

In his State of the Nation address, our country’s leader, President Jacob Zuma highlighted the government’s commitment to reduce fiscal inequality through job creation, infra-structure growth and fight poverty.  Pravin Gordon, our Minister of Finance, echoed these sentiments in the close of his budget speech last week.

With changes across the board, there is a substantial amount of information contained in the entire budget speech, so, we’ve uploaded a condensed version that was supplied by Old Mutual’s Personal Financial Advice and Private Wealth Management, HR & Legal Departments.  It outlines some of the notable changes and adjustment in the budget that will see us through to 2013.

You can view the condensed version of the budget speech here.

If you need help or advice on budgeting or financial planning within the real estate sector, contact us at Rivigan Property Group for more information.

SECTIONAL TITLE EXTENSIONS

OWNERS AND AGENTS:  BE AWARE OF STEPS TO EXTEND SECTIONAL TITLE SECTION

Want to install aircon, satellite dishes or some other addition to your sectional title home?  Be careful not to spend any money before you’ve taken the correct steps…  you may be forced to remove or demolish any unauthorised building or renovations!  Our attorney’s, Masilo and Friedman, recently offered us the following advice:

An owner seeking to extend his/her section must first arrange with the body corporate to call for a special general meeting of all owners so as to pass a special resolution to allow the owner to extend his/her section. Thirty-days notice is usually required for such a meeting. The special resolution would have to be passed by at least three quarters of the owners present in the meeting. It is possible to obtain a special resolution by having three quarters of the owners sign a “round robin” resolution.