Transfer duty rates
Where the person acquiring the immovable property is a natural person:
(With effect from 1 March 2006)
On the:
- first R500 000 of the purchase consideration ... 0%
- purchase consideration exceeding R500 000 but not exceeding R1 000,000 ... 5% on the value above R500 000
- purchase consideration exceeding R1 000,000 ... R25 000 + 8% on the value above R1 000,000
Where the person acquiring the immovable property is not a natural person:
- On the purchase consideration ... 8%
For natural persons no transfer duty is payable where the value of property does not exceed R500 000. Where the sale of fixed property attracts VAT, no transfer duty is payable. Where the transfer of fixed property is not subject to VAT (at either the standard or zero rate), transfer duty is payable.
Transfer between spouses on divorce, and transfers to heirs from a deceased estate, are exempt from transfer duty.
Effective 1 March 2004, an estate agent who receives remuneration for facilitating the transfer of fixed property from a seller to a buyer is obliged to submit the details of the transaction to SARS within six months of the date of acquisition of the property by the buyer.
Refunds of excess transfer duty, additional duty, penalty or interest paid to SARS are refundable provided it is claimed within 5 years from date of acquisition of property of renunciation of any interest in property.