Updates: Details

Budget 2017 - Transfer Duty & "Withholding Tax"

Release Date : 05 May 2017
 

BUDGET 2017 – TRANSFER DUTY & ‘WITHHOLDING TAX’

In terms of the Budget Speech delivered by Minister Pravin Gordhan on 22nd February 2017 there are two items of particular interest to the property market:

 

  1. Transfer duty

 

Relief will be provided to the property market through an increase in the threshold value on which transfer duty is paid. 

 

Currently there is no transfer duty payable on property acquired for a consideration of R750,000.00 or less, however, with effect from 1 March 2017, this threshold has been increased to R900,000.00 and as such transfer duty will only apply to dispositions at a consideration in excess of R900,000.00.

 

The new Transfer duty rates are as follows:

 

 

 
 

 

 

 

 

 

 

 


                                                                                                                 


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