Real Estate Investor Magazine South Africa May/June 2015 | Page 53

To qualify, developers or investors must submit
the following documentation to the South African
Revenue Service (SARS) with their relevant tax return
to claim their tax deduction:
• A UDZ Location Certificate from the eThekwini
Municipality to confirm that the building is
situated in the approved UDZ area
• An occupancy certificate from the Municipality
• A UDZ 1 form (for the construction, renovation or
refurbishment of a building) or UDZ 2 form (for
a building purchased directly from the developer)
must be completed.
• A UDZ 3 form must be completed by the developer
of the building, if the entire building or part of the
building (with a minimum floor area of 1 000m2)
was purchased from a developer.
• The building needs to have been completed after
the date stipulated in Gazette number 27077
when the approval for the eThekwini zone was
demarcated.
• The developer has not already claimed a UDZ
allowance

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• If the estimated costs are likely to exceed R5
million, a UDZ 4 form must be completed and
submitted within 30 days after the commencement
of construction or refurbishment of the building.
Part B is submitted 30 days after the subsequent
sale of the building.
• A UDZ Registration form, together with the
building plans must be submitted to the eThekwini
Municipality

RESOURCES

Pam Golding Properties Newsletter 20 May 2008, www1.
durban.gov.za/durban/invest/economicdevelopment/
investment/overview/tax_zones

MAY 2015 SA Real Estate Investor

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