Vunani Property Investment Fund granted REIT status by JSE

Posted On Tuesday, 25 June 2013 18:35 Published by Commercial Property News
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Vunani Property Investment Fund (VPF) said on Tuesday its application for Real Estate Investment Trust (Reit) status had been approved by the JSE.

Rob Kane Vunani Property Investment Fund

The Reit status will be effective from the start of the company’s financial year‚ July 1 2013.

The SA REIT provides a simple, clear tax structure and is an internationally recognisable tax dispensation for investment property. More than 25 countries in the world use a similar REIT model like the US, Australia, Belgium, France, Hong Kong, Japan, Singapore and the UK. 

National Treasury formally published the REIT tax legislation for South Africa on 25 October 2012 under the new Taxation Legislation Amendment Bill Section 25BB of Income Tax Act.

Bringing South Africa’s listed property sector in line with international standards, the JSE published new Listing Requirements on 28 March 2013 that will facilitate the SA REIT. 

Last modified on Wednesday, 26 June 2013 07:44

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