2020 PROPERTY TRANSFER ACT EMPOWERS BATSWANA TO OWN HOMES

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Property transfer Act provides for instances in which citizens will be wholly exempt from paying Duty. It also increases the exemption amount due to citizens from P 200, 000 to P 500, 000 when computing the Duty payable.

A citizen shall be exempt from paying any Duty in the below mentioned scenarios: where a citizen of Botswana purchases or acquires a residential property for the first time to be used as his own home, such person shall be exempt from the payment of Duty; where an individual citizen of Botswana transfers immovable property to a company owned 100% by that individual or jointly with their spouse (married in community of property); where a company is 100% owned by an individual citizen of Botswana or jointly with their spouse (in community of property), transfers the immovable property to that individual or their spouse; where a transaction involves donations of immovable property to eligible beneficiaries as provided for under the Income Tax Act.

The above listed exemptions shall apply proactively, and for a citizen rely on these qualifications, he must apply to the CG for such an exemption. If accepted, the CG will issue a certificate of approval for exemption, which certificate would have to be presented to the Deeds Registry (“Deeds”) to enable it to affect the transfer.

A major change is the transfer of the responsibility to collect Duty from Deeds to the CG. The office of the CG will, from the commencement date of these amendments, be responsible for issuing payments certificates and sending them to Deeds as proof of Duty having been paid.

This involves significant changes in relation to Duty payable on the transfer of immovable property.

It is important to be aware of these changes prior to entering into any property transactions. The Bill has been passed and now being in enforcement effect from 1st March,2020

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BE ONE WITH NATURE FROM THE COMFORT OF YOUR HOME!

The coronavirus pandemic has made it difficult for us to gain access to some of our favorite outdoor spots, so we’ve all had to find creative ways to get our nature fix.

Now you can feel at one with nature with a website that allows you to tune into locations from around the world and view live feeds of a variety of wildlife as they go about their daily business in their natural habitat!

For instance, you can watch a herd of elephants take a break at an African watering hole in Botswana or catch a glimpse of baby bald eagles in their nest enjoying a fresh fish dinner along Chobe and Zambezi river. You can even go hippo watching from the comfort of your living room!

Watching these wild encounters provides a great escape and some much-needed relief, relaxation and inspiration during these unusual times when we find ourselves cooped up inside. If you have young kids, it can also provide a great educational opportunity! Check out all of the live sites at explore.org

P.S. Please let me know if you’d ever like a hand finding your dream home in Gaborone and surrounding areas or even if you’re just curious about what the house down the street sold for. I’m always happy to help Check some of our Hottest Listings for rent and sale in Gaborone and surrounding areas