TRANSFER DUTY
Transfer Duty is a tax levied on the value of any property acquired by any person by way of a transaction or in any other way. For the purpose of Transfer Duty, property means land and fixtures and includes real rights in land, rights to minerals, a share or interest in a “residential property company” or a share in a share-block company. All Conveyancers are requested to register with SARS.
These are the Transfer Duty rates applied to properties acquired on or after 1 March 2015, and apply to all persons (including Companies, Close Corporations and Trusts):
Who pays Transfer Duty?
- For acquisitions:The person acquiring the property
- For renunciations: The person in whose favour or for whose benefit, any interest in or restriction upon the use or disposal of property has been renounced.