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Wednesday, 13 July 2011 04:05

To become a REIT a company must own property worth at least R300m / USD$32m; derive 75%+ of its income from it; have debt <60% of gross asset value; and pay at least 75% of its taxable earnings to its investors at least annually. The sector currently comprises 2 legal structures: property unit trusts / PUTs; and property loan stocks / PLSs, which are governed & taxed differently, which have created confusion for over 6yrs. The new REIT structure levels the tax treatment / dispensation, but PUTs & PLSs will still be governed differently and be known as either a "Trust" REIT or a "Company" REIT.

Last Updated on Friday, 19 April 2013 02:18