General

Budget 2020

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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