Costs involved in property transfer
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Costs involved in property transfer

Costs involved in property transfer

COSTS INVOLVED SECURING YOUR PROPERTY INVESTMENT:

  • Transfer Duty (Rate of Duty)

The Government levies a tax on property transactions called transfer duty.

The tax is paid when you buy a property and it is transferred into your name. Transfer duty is charged on a sliding scale depending on the price of the property – the more expensive it is, the higher the transfer duty.

From the 23 rd of February 2011 Transfer Duty For Individuals, Companies, Close Corporations (CC) and Trusts the scale is as follows

Paid on the value of the property sale:

Transfer Duty Table: (There are still Transferring Costs of transfer and Bond Costs to pay)

After the Budget Speech on 22 February 2017, please note the following rates apply:

Value of property (R) Rate
0 – 900 000 0%
900 001 – 1 250 000 3% of the value above R900 000
1 250 001 – 1 750 000 R10 500 + 6% of the value above R1 250 000
1 750 001 – 2 250 000 R40 500 + 8% of the value above R1 750 000
2 250 001 – 10 000 000 R80 500 + 11% of the value above R2 250 000
10 000 001 and above R933 000 + 13% of the value above R10 000 000
  • Conveyancing Fees – To Attorney
  • Bond Costs