TRANSFER

DUTIES

THE BUDGET SPEECH 2017
The South African National Budget Speech of 2017 took place on Wednesday the 22nd of February. Tabling the many aspects that were discussed, Finance minister Pravin Gordhan revealed that properties under R900 000 (previously R750 000) will not attract transfer duty tax.
1 March 2017 - 28 February 2018

Value of Property                   Rate of Transfer Duty                                            

R                 0 – R     900 000      0% 

R     900 001 – R  1 250 000      3% of the value above R900 000

R  1 250 001 – R  1 750 000      R10 500 + 6% of the value above R1 250 000

R  1 750 001 – R  2 250 000      R40 500 + 8% of the value above R1 750 000

R  2 250 001 – R10 000 000     R80 500 + 11% of the value above R2 250 000

R10 000 001 +                            R933 000 + 13% of the value above R10 000 000

1 March 2016 - 28 February 2017

Value of Property                   Rate of Transfer Duty                                            

R                 0 – R     750 000      0% 

R     750 001 – R  1 250 000      3% of the value above R750 000

R  1 250 001 – R  1 750 000      R10 500 + 6% of the value above R1 250 000

R  1 750 001 – R  2 250 000      R40 500 + 8% of the value above R1 750 000

R  2 250 001 – R10 000 000      R80 500 + 11% of the value above R2 250 000

R10 000 001 +                            R937 500 + 13% of the value above R10 000 000

1 March 2015 - 29 February 2016

Value of Property                   Rate of Transfer Duty                                            

R                 0 – R     750 000      0% 

R     750 001 – R  1 250 000      3% of the value above R750 000

R  1 250 001 – R  1 750 000      R15 000 + 6% of the value above R1 250 000

R  1 750 001 – R  2 250 000      R45 000 + 8% of the value above R1 750 000

R  2 250 001 +                            R85 000 + 11% of the value above R2 250 000

 

1 March 2012 - 28 February 2015

Value of Property                   Rate of Transfer Duty                                            

R                 0 – R     600 000      0% 

R     600 001 – R  1 000 000      3% of the value above R600 000

R  1 000 001 – R  1 500 000      R12 000 + 5% of the value above R1 000 000

R  1 500 001 +                            R37 000 + 8% of the value above R1 500 000

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