Taxpayers will have to tread a careful path
TAXPAYERS embarking on transferring property out of companies, close corporations and trusts into their own names to avoid capital gains tax could face losses in the form of other taxes. They could attract as much as 20% estate duty, resulting in a net loss, warned Edward Nathan & Friedland tax director Beric Croome.
( ©www.bday.co.za )

Tax reform prompts a rethink on brand value
WITH tax authorities examining intangible assets and intellectual property to see how they should be treated in tax reforms, accountants are thinking about brand value reporting as a supplement to the historic cost approach currently used. This implies a greater role for the valuation of all intangible assets and brands in particular, and calls for some form of uniformity of approach in how these values will be estimated.
( ©www.bday.co.za )

Alex housing needs rethink
IN AN article published on Friday, I argued that the rebuilding of Alexandra is an opportunity with the potential to turn grants worth R1,6bn, and land estimated at R3,6bn, into a financial injection of about R20bn. This allows for consideration of larger city issues than merely an upgrade of the township, which is the focus of the present business plan for Alexandra.
( ©www.bday.co.za )

Murray & Roberts sells off pipes subsidiary for R169m
MURRAY & Roberts, a leading industrial holding and construction company, yesterday announced the R169m sale of its pipe and hose subsidiary to Petzetakis, a Greek plastics and rubber company.
( ©www.bday.co.za )

Condoms may give Coega a start
A GERMAN company is planning to invest in a condom factory in Coega, as part of the R43bn arms offset deal. Industry sources said this week that German steel company Ferrostaal, which represents a submarine consortium involved in the offset programme, had put forward the investment in Coega by a German condom maker. The plan had been put to the trade and industry department for approval.
( ©www.bday.co.za )

Former MEC in court for fraud
FORMER Mpumalanga public works MEC Jackson Mthembu and another man, Ruaf Iqbal, appeared in the Pretoria Regional Court on charges of fraud and forgery yesterday.
( ©www.bday.co.za )

Nigeria to probe contract
Senate says Chinese company did poor job on $528m railway rebuilding project ABUJA The Nigerian senate has said it will investigate a 528,6m contract given to a Chinese firm to rebuild the nation's railways, charging that poor quality work had left them in worse condition than before.
( ©www.bday.co.za )

Canary Wharf to return £2bn to shareholders
Real estate giant's plan comes soonerthan expected due to higher returns LONDON Canary Wharf Group, Britain's second-largest property company, unveiled plans yesterday to return at least £2bn to shareholders over the next four years.
( ©www.bday.co.za )

BT's £2,3bn property sale is good news for investors
LONDON British Telecommunications cheered investors yesterday with a £2,3bn property sale and news that an experienced hand would guide the spin-off of its mobile division. The group, which has embarked on a radical shake-up to cut its debt by about a third this year, said it had agreed to sell 6-million square metres of telephone exchanges and offices to property developer Land Securities Trillium and privately owned William Pears Group.
( ©www.bday.co.za )

Experts get the right angle on leaning tower
Pisa, Italy - It has been bandaged, steadied, injected and crammed with tubes. Now, after years of therapy, Italy's most illustrious patient is finally cured. On Saturday Michele Jamiolkowski, the engineer who spent more than a decade at its sickbed, will return the Leaning Tower of Pisa to its citizens and the world at a ceremony.
( ©www.iol.co.za )

Unit trusts have edge on property
And the rule for predictable long-term returns is a sizeable, diversified portfolio, says an expert RETURNS on property unit trusts continued to outstrip returns on physical property last year, says John Rainier, vicechairman of the Association of Property Unit Trusts.
( ©www.bday.co.za )

Nu-Way Housing wins deal for mixed-use project in Blue Downs
NU-WAY Housing Developments has won a R140m contract to develop a mixed-use project in Blue Downs in the southeast of the Cape metropolitan area. The development will have residential and commercial sites, with about 1500 residential units. Cofidence in East London improves
( ©www.bday.co.za )

Neglect puts SA in fast lane to ruin
Under-spending on roads could hamper growth and make repairs impossible SA's roads may be heading down a one-way cul de sac to disaster due to government negligence, a new report warns. The report suggests that government may find its negligence leading to legal bills which could exceed the amount that should be spent on the roads.
( ©www.bday.co.za )

Jordan seeks to make game estate living affordable
JORDAN Properties is bringing to the market 300 stands for residential development southwest of Hoedspruit in Northern Province.
( ©www.bday.co.za )

Pushing Bisho to one side
Call East London the lucky city. Its politicians turned it into a backwater early last century when they discouraged industrial development and Port Elizabeth (PE) became the business hub of the Eastern Province (EP). But external political and business events have now turned it into a boom town and the province's unofficial capital.
( ©www.fm.co.za )

Durban house supply outstripped by developers
Wanted: Thousands of homes for the North Coast, writes Property Editor James Brennan The supply of housing north of Durban is being outstripped by entertainment, retail and office development in and around Umhlanga, which is rapidly becoming a Sandton-on-Sea.
( ©www.iol.co.za )

Good prices, grants lure industrialists
DURBAN A combination of good land prices and government incentives is attracting substantial industrial investment to the outlying area of Waterfall, between Durban and Maritzburg.
( ©www.bday.co.za )

Masonite anticipates growth
DURBAN Industrial building and construction group Masonite (Africa) says its prospects for the year ahead are better than last year's, with growth expected from new markets in Africa, Turkey and the Middle East.
( ©www.bday.co.za )

R2-billion fund for economic growth in Durban
Durban's unicity council committed itself on Monday to spending R2-billion on economic development over the next five years.
( ©www.iol.co.za )

Home stock shortage developing in Natal
THE KwaZulu-Natal property market is buoyant at the upper end, and stock shortages are developing, says property group Remax. Regional director Peter Gilmour says the market has shown growth for three years running, despite mixed economic conditions.
( ©www.bday.co.za )

Cinderella suburbs not a pumpkin
Residential areas to the south of Durban, which are often regarded as the city's Cinderella housing suburbs, have put in a solid performance during the first four months of this year.
( ©www.iol.co.za )

Under the hammer
Do your homework carefully before bidding for a home at an auction. Good deals can be found at property auctions, but great care must be taken before buying a home that is under the hammer.
( ©www.iol.co.za )

Overpricing hits market
A lack of saleable homes is the only grumble you're likely to hear from estate agents. Well-priced properties in good condition are fast disappearing from the residential market, leaving many buyers high and dry when it comes to finding their dream home.
( ©www.iol.co.za )

R2-billion fund for economic growth in Durban
Durban's unicity council committed itself on Monday to spending R2-billion on economic development over the next five years.
( ©www.iol.co.za )

The developer is a member, too
Every owner within a Sectional Title scheme has to pay a levy on the units registered in his or her name. In a new scheme, this includes the developer who is obliged to pay full levies on all the units registered in the developer's name - whether or not the sections are occupied, or even completed.
( ©www.mweb.co.za )

New urbanism reaches Hillcrest
The “new urbanism” that sees the development of integrated live-work-and-play nodes through the simultaneous creation of new residential and commercial space is catching on in KwaZulu-Natal.
( ©www.mweb.co.za )

SA buyers taking a cue from 50-million in US
If you thought the proliferation of security estates, clusters and other “gated” developments was a peculiarly South African reaction to a high incidence of crime and violence - think again.
( ©www.mweb.co.za )

Changing locations is tricky
Buying a home in a location where you have never lived, and about which you know little, can add major stress and uncertainty to the property buying process.
( ©www.mweb.co.za )

Judge rules 'squatter' cannot be evicted
Two Port Elizabeth estate agents who bought a house on a public auction have been left reeling by a High Court judgment which prohibits them from evicting the previous owner.
( ©www.mweb.co.za )

The New View
Production of an interactive video presentatin got underway at the offices of ASAQS in Midrand today. The presentation explains the "New View" strategy recently adopted by the ASAQS and will be distributed on CD.Members should receive copies by the end of June. Chapters will also be provided with a video-only version of the presentation.

Spotted on the ASAQS website
Calendar:
SAPOA - Capital Gains Tax Workshop on 21 June 2001. Contact Maggie van Vuuren (members@sapoa.org.za) for more detail.
GIFA Breakfast Forum on 29 June 2001. The guest speaker is Professor Nick Binedell, director of the Gordon Institute of Business Science. Contact the Gauteng Institute for Architecture (admin.gifa@saia.org.za) for more details or click here to get more information from our website.
Classifieds:
Holiday accommodation in the Cape.
QS sought for a position in Angola.
Junior QS sought by small East Rand firm.
To view our classifieds click here.

Get money back for training students
Did you know that you could recover a significant portion of your Skills Development Levy? Click here to download a recent directive from the Alliance of Development Professions (Note:The directive is in PDF format and requires Acrobat Reader) Then browse to the CETA website for more information.

Bon Voyage
...to the President who leaves for Pittsburg on the 13th June to attend the 45th AACE International Annual Meeting in Pittsburgh, Pennsylvania, USA. This year's theme, "A Bridge to the Future", is presented over three days. Browse to the AACE website for full program details and to find out more about the Association for the Advancement of Cost Engineering through Total Cost Management.

New update of WinQS
Version 5.1 of this popular program can now be downloaded from the Internet at http://www.winqs.co.za. Cathy Rocher of ACE Computer Services says that the upgrade should be installed on all workstations. The new update has a number of improvements, one of which is an improved export facility to MSExcel. Clients who do not have internet access, or a slow connection could request the update on CD from Cathy.

June 22 deadline
You should have received your nomination forms in the post by now. Please note that the nominations for candidates representing your chapter on the Board should reach Basie Botha at ASAQS on or before Friday 22 June 2001.

Reimburseable expenses revised
We received the latest schedules from the Department of Public works but have had problems converting them to PDF format for publication within the CUG. We trust that we will be able to upload the schedules during next week. The tariffs for travelling and hourly work have been changed. Rates for typing and duplicating remain as is.

New members to the CUG
We wish to welcome the following new member to the CUG:
Johan de Villiers
Jaco van Rooyen
Steve Wilmot
Christiaan Geyer

Please note that your registration to the CUG will remain in force as long as you remain a member of ASAQS and there is no need to register every year. If you have not received an e-mail confirming your registration contact ASAQS.

Now read the Did you Hear? coulumn in the Financial Mail