Malema's Polokwane house auctioned
The house sold for R1.4m which will be used to pay Malema's tax debts.
JOHANNESBURG - Julius Malema's Polokwane home has fetched R1.4 million at an auction held on Tuesday morning.
The auction is part of an attempt by the South African Revenue Service (SARS) to recover money Malema owes in tax debt.
He owes Sars R16 million as a result of unpaid taxes, penalties and interest.
Sars started investigating Malema's tax affairs in 2011 after it was revealed that he was linked to companies which had obtained lucrative contracts from the Limpopo provincial government.
Auctioneer Aggie Stroh says four bidders fought for the best price.
"At the beginning I said the house would go for between R1 million and R 1.5 million. So the price obtained is quite a good price for the auction."
He says considering the area and general property values, the house is worth the price.
Malema has lost several of his possessions.
Malema's incomplete Sandton mansion in Johannesburg went under the hammer earlier this year and fetched almost R6 million.
He lost his farm in March after failing to oppose a high court order that his farm be nationalised to pay off his tax debts.
After a lengthy absence from the South African political arena, the expelled ANC Youth League leader announced the official formation of the Economic Freedom Fighters earlier this month.
The firebrand politician said the party will fight for nationalisation of mines and land reform without compensation.
He said while these policies may result in sanctions and a situation similar to Zimbabwe's, he says South Africans were ready.
"South Africans should know they're going to be punished heavily by monopoly capital, there will be a day when we wake up without bread on the shelves and that's the day when you'll learn to make bread at home."
He said the party has already started consulting with senior government officials some of whom occupy high ranking positions within the ANC.