A property transfer duty is a tax payable by buyers of all types of properties and is over and above the selling price.
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Here’s how to work out how much you’ll need:
The Transfer Duty rates below are applicable on property acquired on or after 7 December 2020.
There is no Transfer Duty on property under R1,000,000
From R1,000,001 to R1,375,000 | Transfer duty is calculated at 3% of the value above R1,000,001. (You don’t pay transfer duty on the first R1,000,000) |
From R 1 375 001 to R 1 925 000 | Transfer Duty is calculated at 6% on the value above R 1 375 000.00 PLUS R11,250 |
From R 1 925 001 to R 2 475 000 | Transfer Duty is calculated at 8% on the value above R 1 925 000 PLUS R44,250 |
From R 2 475 001 to R11 000 000 | Transfer Duty is calculated at 11% of the value above R 2 475 000 PLUS R88 250. |
From R11 000 001 and above | Transfer Duty is calculated at 13% of the value exceeding R11 000 000 PLUS R1 026 000 000. |
No transfer duty is payable if the transaction is subject to VAT.