News

Transfer duties in 2018

Okay, first thing is first, what is ‘transfer duty’? The South African Revenue Service (SARS) defines transfer duty as “a tax levied on the value of any property acquired by any person by way of a transaction or in any other way”.

For the purpose of transfer duty, property means land and fixtures and includes real rights in land, rights to minerals, a share or interest in a “residential property company” or a share in a share-block company.

And now for the 2018 prices.

The “What will you pay in transfer duties in 2018?”

Well, these are the transfer duty rates applicable on property purchased on or after 1 March 2018 until 28 February 2019:

Value of property Rate
0 – R900 000 0%
R900 001 – R1 250 000 3% of the value above R900 000
R1 250 001 – R1 750 000 R10 500 + 6% of the value above R 1 250 000
R1 750 001 – R2 250 000 R40 500 + 8% of the value above R 1 750 000
R2 250 001 – R10 000 000 R80 500 +11% of the value above R2 250 000
R10 000 001 and above R933 000 + 13% of the value above R10 000000
Call Now ButtonCall Us
For any COVID-19 updates, please visit: www.sacoronavirus.co.za
close