Sunday Tribune 2025-02-23

Ian Wyles would like to feature two properties that will go under the hammer during their auction on February 27 at 11am. The first is a renovator’s dream at 50 Mimosa Drive, Mtunzini. The area is 45km from Richards Bay and 90km from Ballito and enjoys a host of outdoor activities from golf, squash and tennis at the country club, to deep-sea fishing. There is also a range of amenities, schools and shops. The property is situated on a large, level plot with distant sea views and comprises six bedrooms, six bathrooms, one office/flat, two reception areas, a large open-plan kitchen, a dining room and a lounge, a patio, a double garage, a double carport, and approved plans for a lapa. The property is fully tiled and features air conditioners…

In2assets will be auctioning a number of exclusive commercial units in the uMhlanga Ridge precinct on March 18 at 11am. Up for auction are Sections 1, 105, 106, 107, 109, 115, 122, and 123 within the sectional title scheme Aldrovande Palace. The units form part of a mixed-use development comprising commercial, retail, and residential spaces in uMmhlanga’s vibrant New Town Centre. Aldrovande Palace is in a prominent position along Millennium Boulevard, Jubilee Grove, and Solstice Road, within walking distance of the renowned Gateway Theatre of Shopping. This bustling business hub is just 15 minutes north of Durban’s CBD and Harbour, with excellent connectivity to major road networks and King Shaka International Airport, approximately 25km away. The unit details are as follows: • Section 1 (±353m²) is located on the lower…

Old Johannesburg Warehouse (Old JW) Auctioneers’ Durban branch has a bumper sale of 700 lots of antiques, artworks, jewellery, and fine wines taking place on March 3. The sale includes the contents of an old Durban mansion in Sir Arthur Road, Morningside, which is filled with a lifetime’s collection of antique furniture, artworks and treasures. A variety of decorative pots, outdoor furniture and garden sculptures from the formal garden will also be up for sale. For wine aficionados, the contents of a climate-controlled wine cellar will be up for grabs, with nearly one hundred lots of wine and spirits. The lots include scarce and sought-after estate wines such as Meerlust Rubicon (2006 vintage onwards), Chateau Libertas (1995), and French Chablis (Louis Latour 2003). The property owners enjoyed travelling and there…

The postponement of South Africa’s 2025 Budget Speech from February to March has reignited discussions about the country’s economic challenges, particularly its narrow tax base and sluggish growth. From the data pulled from the National Treasury and the South African Revenue Service’s 2024 tax statistics report, an estimated 2.6% of South Africa’s population pay 76.2% of all personal income tax. In terms of company tax, just over 1 000 companies paid 72.3% of all company income tax. This limits the government’s efforts to invest in the country while providing services that encourage growth and job creation. A narrowing tax base leads to difficult discussions and decisions such as the much-maligned 2% increase in VAT. To chart a better economic path to growth for the country, it is clear that increasing…

The postponement of Finance Minister Enoch Godongwana’s Budget Speech this past week left the nation in a state of shock, especially after it came to light that the government had planned on increasing Value Added Tax (VAT). The speculation about a possible VAT increase raised alarm bells for millions of South Africans already battling the cost-of-living crisis Neil Roets, the CEO of Debt Rescue, told Business Report that higher taxes on everyday essentials would be devastating. “A VAT hike in the current economic climate would be catastrophic. Consumers are already drowning in debt and struggling to afford essentials such as food, transport, and electricity. Increasing VAT would push consumers into even further financial distress,” Roets said. A VAT increase will be harsh on lower-income households, who already spend most…

The Minister of Finance has not had it easy in 2025 and the Budget Speech not read yesterday pays testament to this. Postponing the speech to March 12 is unprecedented, and is due to the Government of National Unity (GNU) not reaching consensus on a way forward to tabling a budget. It seems as if the fallout was based largely on a proposed 2% increase to VAT that was rejected by two parties. I personally would not have supported this proposal either as the tax burden shifts disproportionally to the poor. My initial response of the postponement was frustration and disappointment. But I soon realised that it is the outcome of a new government dispensation made up of many voices, and many dissenting at that, becoming more important. In principle,…