The current (2015/2016) Transfer duty rates remain the same, with one exception. Properties with a value above R10 million will attract Transfer duty at a rate of 13% as opposed to the current 11%.
Transfer duty rate adjustments, 2016/2017
| Property value (R) | Rates of tax |
| R0 - R750 000 | 0% of property value |
| R750 001 - R1 250 000 | 3% of property value above R750 000 |
| R1 250 001 - R1 750 000 | R15 000 + 6% of property value above R1 250 000 |
| R1 750 001 - R2 250 000 | R45 000 + 8% of property value above R1 750 000 |
| R2 250 001 - R10 000 000 | R85 000 + 11% of property value above R2 250 000 |
| R10 000 000 + | R937 500 + 13% of property value above R10 000 000 |
While the maximum effective rate of capital gains tax has also been increased:
| Legal entity | 2015 | 2016 |
| Individuals and special trusts | 13.65% | 16.4% |
| Companies | 18.65% | 22.4% |
| Other trusts | 27.31% | 32.8% |
To read all documents relating to the budget go to National Treasury Department and for a summary see the Budget Pocket Guide 2016-2017
The popular Tables of Costs for Conveyancing - ready reckoner will be updated and published next week to reflect the transfer duty rates which come into effect on 1 March 2016.
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