Real Estate Investor Magazine South Africa June 2015 | Page 50

FINANCE

Utilizing The Polokwane

UDZ
Tax incentives can boost
Polokwane commercial
buy-to-let market
BY MEGAN DIENER

N

ational Treasury extended the Urban
Development Zone (UDZ) tax incentive last
year until March 2020.
This incentive (which falls under section 13 quat
of the Income Tax Act - No. 58 of 1962) regenerates
urban areas and business districts experiencing urban
decay by boosting capital investment in buildings in
UDZ areas.
Developers and investors can capitalise on this tax
write-off for construction or refurbishment costs of
commercial properties in UDZ zones, such as the in
the Polokwane Municipality in Limpopo.
According to the Government Gazette, the
demarcated borders of the Polokwane UDZ starts at
its most northern point at Biccard Street as the eastern
boundary where it crosses Excelsior Street. From this
boundary it runs down Biccard Street in a southern
direction up to Thabo Mbeki Street, where it turns
west along Thabo Mbeki Street up to Church Street.
In Church Street it turns south along the latter where
it turns in an eastern direction along the erf boundaries
of Erven 85 Pietersburg and the Remainder and
Portion 4 of Erf 86 Pietersburg. It turns south again in
Genl. Joubert Street and immediately east again along
the boundaries between Erf 80 and Erf 6066, both in
Pietersburg.
In Landros Mare Street it turns south up to Rabe
Street where it runs in an eastern direction up to
Biccard Street. In Biccard Street it turns south up

48

JUNE 2015 SA Real Estate Investor

to Marshall Street as most southern boundary. From
this point it runs in a western direction up to Market
Street. From Market Street it turns north up to where
it crosses the Sterkloop River. At this point it runs
along the Sterkloop River and the Public Open Space
where it joins Bok Street. From Bok Street it turns in
an eastern direction along the boundaries of Erf 65
and Portion 1 of Erf 66, both Pie \