Property Practitioners, including Estate Agents, Candidate Estate Agents, and Property Managing Agents (“the Agents”), have for years been regulated by the Estate Agency Affairs Act, 112 of 1976 (“EAA”). However, as of 01 February 2022, this era has come to an end, with the enactment of the Property Practitioners Act, 22 of 2019 (“the Act”). The Act, expressly requires that in order to continue practicing as an Agent, a valid tax clearance certificate (“TCC”) must be received from the South African Revenue Service (“SARS”), in order to procure or renew a Fidelity Fund certificate (“FFC”). A TCC confirms that a taxpayer’s tax affairs, on the SARS front at least, are in order, and that they are fully compliant from both a returns/documentary and liability perspective. In order to avoid this disqualification, it is of utmost importance that property practitioners ensure optimal tax compliance, both historic
Property Practitioners, including Estate Agents, Candidate Estate Agents, and Property Managing Agents (“the Agents”), have for years been regulated by the Estate Agency Affairs Act, 112 of 1976 (“EAA”). However, as of 01 February 2022, this era has come to an end, with the enactment of the Property Practitioners Act, 22 of 2019 (“the Act”). Unlike its predecessor, the Act serves to provide grounds of disqualification from practising as a property practitioner, including, but not limited to, not being in possession of a valid tax clearance certificate (“TCC”). The knock-on effect here is the Agents are then unable to procure / renew their Fidelity Fund certificate (“FFC”), which has always been an express requirement for practising as an Agent.
Property Practitioners, including Estate Agents, Candidate Estate Agents, and Property Managing Agents (“the Agents”), have for years been regulated by the Estate Agency Affairs Act, 112 of 1976 (“EAA”). However, this is soon to change with the enactment of the Property Practitioners Act, 22 of 2019 (“the Act”), signed into law by President Cyril Ramaphosa, and with an effective commencement date of 01 February 2022. Relaying the Foundation