New transfer duty amount announced
Category Buying
From March 1, 2023 to February 2024, the entry amount for paying transfer duty on a property (that needs to be registered) is R1 100 000.
This was announced by the Minister of Finance, Enoch Godongwana, during the National Budget Speech on 22 February, 2023.
- Trusts and/or any other special type of trust will be taxed at a rate of 45 % from March 1, 2023.
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Author: Machelene Joubert