3. What is the Transfer Duty payable on a property?

Transfer Duty is now the same for natural persons and legal persons (SARS Budget 2011). Transfer Duty is payable at the following rates on transactions which are not subject to VAT:
Acquisition of property by all persons

Value of Property (R)

Rate

0 - 600 000

0%

600 001- 1 000 000

3% of the value above R600 000

1 000 001 – 1 500 000

R12 000 + 5% of the value above R1000 000

1 500 001 and above

R37000 + 8% of the value exceeding R1 500 000