Solomon Brothers Property Holdings is offering buyers of units in Pepper Club - a luxury hotel residence sectional title scheme - guaranteed returns for a fixed period of time, as well as substantial tax incentives thanks to its location in an Urban Development Zone.
Pepper Club also offers the opportunity for significant capital appreciation. Apartments range from studios of 34 square metres to a luxurious penthouse suite duplex of 740 square metres. Prices range from R1,259 000.00 for a studio apartment, to R30 million for the exclusive penthouse.
The apartments are leased out on behalf of buyers as five star apartment hotel rooms by way of a rental pool. Owners of units in the rental pool receive a guaranteed return of 8% p.a. for the first two years of ownership.
An investment in Pepper Club also has some very beneficial Income Tax allowances which can be utilised to reduce an investor's tax liability on income from all sources.
The Pepper Club development falls within a designated Urban Development Zone (UDZ), providing investors with benefits from a tax incentive of 55% on the purchase price of units. The tax incentive helps to reduce the taxable income of the investor. The incentive is not limited to the taxpayer's current year's taxable income. If it is not absorbed in any tax year it can be carried forward as an accumulated tax loss until fully absorbed. In addition, the incentive is not "ring-fenced" - so it can be offset against any other taxable earnings.
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