Transfer Duty

Transfer duty rate adjustments, 2014/15 to 2015/16

2014/15

2015/16

Property value (R)

Rates of tax

Property value (R)

Rates of tax

R0 - R600 000

0% of property value

R0 - R750 000

0% of property value

R600 001 - R1 000 000

3% of property value above R600 000

R750 001 - R1 250 000

3% of property value above R750 000

R1 000 001 to R1 500 000

R12 000 + 5% of property value above R1 000 000

R1 250 001 - R1 750 000

R15 000 + 6% of property value above R1 250 000

R1 500 001+

R37 000 + 8% of property value above R1 500 000

R1 750 001 - R2 250 000

R45 000 + 8% of property value above R1 750 000

 

 

R2 250 001+

R85 000 + 11% of property value above R2 250 000

MAJOR CHANGE

Previously Companies, Close Corporations and Trusts paid an 8% flat rate of the purchaseprice as transfer duty irrespective of the purchase price which made it very expensive to purchase to purchase properties in legal entities. From the 23rd February 2011, Companies, Close Corporations and Trusts will pay the same transfer duty as natural persons.

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