Transfer duty

Transfer duty rates have changed effective 23 February 2011.

Properties which are not subject to VAT on the acquisition of property by all persons (thus including close corporations, companies and trusts) acquired under purchase agreements concluded on or after 23 February 2011, will be subject to the following rates:
Value of property
R0 - R600 000 : Rates of tax = 0%
R600 001 - R1 000 000 : Rates of tax = 3% of the value above R600 000
R1 000 001 - R1 500 000 : Rates of tax = R12 000 + 5% of the value above R1 000 000
R1 500 001 and above : Rates of tax = R37 000 + 8% of the value exceeding R1 500 000