Transfer Duties and Bond Calculations

Transfer duties:  (As from 01 March 2017 these values are applicable)

For each property sale, transfer duties are payable.

Transfer duties are NOT the attorney fees, but a form of TAX required by the government, payable to SARS.

The transfer duties are paid by the PURCHASER, and have to be paid within 6 months from date of transaction to avoid SARS penalties.

Explanation of transfer duties:

Scale % Transfer Duties to Pay Example of Calculation
R1 to R 900,000 Zero % transfer duties If you buy for R900,000 you will pay 0% = Zero
R 900,001 to R 1,250,000 3% on the amount above R900,000 If you buy for R950,000 you will pay 3% on R50,000 = R1,500
R 1,250,001 to R 1,750,000 R10 500 plus 6% on the amount above R1,250,000 If you buy for R1,350,000 you will pay 3% on R350 000,00 = R10,500 and

6% on R100,000 = R6,000 amounting to a total of R16,500

R 1,750,001 to R 2,250,000 R40 500 plus 8% on the amount above R1,750,000 If you buy for R1,850,000 you will pay 3% on R350,000 = R10,500 and

6% on R500,000 = R30,000 and

8% on R100,000 = R8,000 amounting to a total of R48,500

 

R 2,250,000 to R10 000 000

 

13% above R10,000,000

R80 500 plus 11% on the amount above R2,250,000 If you buy for R2,350,000 you will pay 3% on R350,000 = R10,500 and

6% on R500,000 = R30,000 and

8% on R500,000 = R40,000 and

11% on R100,000 = R11,000 amounting to a total of R91,500

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