New transfer duty amount announced
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.
Photo credit: https://www.freepik.com
28 Feb 2023
Author Machelene Joubert
Author Machelene Joubert