Slight tax relief for property transfers, as the threshold has been raised to R1 000 000 from the current R900 000, in an attempt to "support the property market".
| Transfer duty rate adjustments, 2020/2021 | |
| Property value (R) | Rates of tax |
| R0 - R1 000 000 | 0% of property value |
| R1 000 001 - R1 375 000 | 3% of property value above R1 000 000 |
| R1 375 001 - R1 925 000 | R11 250 + 6% of property value above R1 375 000 |
| R1 925 001 - R2 475 000 | R44 250 + 8% of property value above R1 925 000 |
| R2 475 001 - R11 000 000 | R88 250 + 11% of property value above R2 475 000 |
| R11 000 000 and above | R1 026 000 + 13% of property value above R11 000 000 |
To read all documents relating to the budget go to National Treasury Department and for a summary see the Budget 2020 Tax Pocket Guide
The popular Tables of Costs for Conveyancing - ready reckoner will be updated to reflect the transfer duty rates which come into effect on 1 March 2020.
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