During a lengthy meeting with National Treasury in March 2008, the PLSA’s written comments provided to National Treasury regarding the discussion paper were debated, different perspectives were clarified and points of difference were identified.

The PLSA will persist in its liaison with National Treasury on matters raised in the meeting and will be obtaining input from its members in order to formulate the PLSA’s position.
 
Matters under discussion include:
• a possible entry tax for conversion to REITs
• the position of unlisted PLS companies wishing to become REITs
• standardisation of the determination of distributable profits
• limitations on the number of layers of corporates that qualify as REITs
• diversification of risk in REIT property portfolios
• and types of debt funding available to PLS companies

The PLSA will provide members with comprehensive feedback in order to take this process further.