Government should abolish transfer duty as it inhibits home ownership for those who cannot afford housing in urban areas, say tax analysts.
"Transfer duty is a transaction tax imposed as a source of revenue with no economic or social basis," says Paul Ferreira, a director at Werksmans Tax. Current reductions do not mean that there will be increased demand for housing, Ferreira says, because low-income earners still have to contend with high capital prices and ongoing municipal rates and taxes.
Article on Business Day
Leave a comment: