Transfer Duty is not to be confused with Transfer Costs or Fees. Transfer Duty is a tax payable to the government by the Purchaser, prior to transfer.
Transfer Duty will be exempted if the purchase price / value is under R750 000 or when the Seller is a registered Vat Vendor and the property is being sold as part of a going concern.
Penalty Transfer Duty is payable if same is not paid to the Receiver of Revenue within 6 months after the date of acquisition of the immovable property.
Transfer Duty is calculated on the value of a immovable property (purchase price or market value whichever is the highest).
Transfer Duty is calculated as follows:
What kinds of costs are involved in a normal transaction?
The costs relating to the transfer of fixed property fall into the following categories:
Use our mobile transfer calculator to determine the fees on any transfer or bond registration:
Written by Wessel de Kock