ALL house price brackets save R4,500 in transfer duty
Sale agreements entered into from 1 March 2017 will see buyers liable for transfer duty according to the new scale. Finance Minister Pravin Gordhan yesterday only amended the R750,000 margin against which no transfer duty was payable, to a higher margin of R900,000. For any property above R900,000 the difference across the board is R4,500.
|Value||Transfer duty 2017||Transfer duty 2016||Difference|
Buyers who have entered into sale agreements from now until 28 February 2017 will not pay less transfer duty, as it will only be applicable from 1 March 2017. Existing sale agreements’ dates cannot be changed as this will amount to fraud.