Transfer Duty

To whom is Transfer Duty Payable and how is it calculated?

Property Blog Articles | Advice | Contractual Matters | Market News

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:

  • 0% up to R750 000
  • 3% on the balance between R750 001 and R1 250 000
  • 6% on the balance between R1 250 001 and R1 750 00 + R15 000
  • 8% on the balance between R1 750 001 and R2 250 000 + R45 000
  • 11% on the balance between R2 250 001 and R10 000 000 + R85 000
  • 13% on the balance above R10 000 0001 + R937 500

What kinds of costs are involved in a normal transaction?

The costs relating to the transfer of fixed property fall into the following categories:

  • Transfer Fees
  • Bond Fees
  • Transfer Duty or VAT
  • Rates and Levies
  • Deeds Office Levies

Use our mobile transfer calculator to determine the fees on any transfer or bond registration:
Calculate Now!

1787

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Transfer Duty

To whom is Transfer Duty Payable and how is it calculated?

Property Blog Articles | Advice | Contractual Matters | Market News

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:

  • 0% up to R750 000
  • 3% on the balance between R750 001 and R1 250 000
  • 6% on the balance between R1 250 001 and R1 750 00 + R15 000
  • 8% on the balance between R1 750 001 and R2 250 000 + R45 000
  • 11% on the balance between R2 250 001 and R10 000 000 + R85 000
  • 13% on the balance above R10 000 0001 + R937 500

What kinds of costs are involved in a normal transaction?

The costs relating to the transfer of fixed property fall into the following categories:

  • Transfer Fees
  • Bond Fees
  • Transfer Duty or VAT
  • Rates and Levies
  • Deeds Office Levies

Use our mobile transfer calculator to determine the fees on any transfer or bond registration:
Calculate Now!

1787