Transfer Duty is the tax levied on the value of the purchased property or acquired in any other way (i.e. donation) and is payable to SARS. The Conveyancer applies for a Transfer Duty Receipt (TDR) from SARS which will indicate that the Transfer Duty amount has been paid or an exemption has been given, this is a requirement. Property up until R 1,000,000.00 is exempted from Transfer Duty. Below is the table for the Transfer Duty Applicable on the purchase price of the property:-
| Value of the Property (R) | Rate |
|---|---|
| 1 – 1,000,000 | 0% |
| 1,000,001 – 1,375,000 | 3% of the value above R1,000,000.00 |
| 1,375,001 – 1,925,000 | R11,250.00 + 6% of the value above R1,375,000.00 |
| 1,925,001 – 2,475,000 | R44,250.00 + 8% of the value above R1,925,000.00 |
| 2,475,001 – 11,000,000 | R88,250.00 + 11% of the value above R2,475,000.00 |
| 11,000,001 and above | R1,026,000.00 + 13% of the value exceeding R11,000,000.00 |