In a nutshell, the transfer duty tax breaks announced in Budget 2015 will reduce costs for most middle-income households but will increase costs of property transactions above about R2,65m (with maximum savings at about the R2m to R2,3m level).
Remember, that no transfer duty is payable when the sale is subject to the payment of VAT.
The new exemption level, brackets and transfer duty rates are –
If you need any help or further information, please feel free to contact one of our Conveyancing attorneys.
