Transfer Duty in South Africa: Key Facts for Property Buyers
Transfer duty is the tax you pay when buying property in South Africa, governed by Section 2 of the Transfer Duty Act 40 of 1949 (TDA). It applies to immovable property and certain real rights, like long-term leases. As the buyer (transferee), you’re responsible for paying it within six months of signing the offer to […]
Transfer of a property: Is VAT or transfer duty payable?
A purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to the payment of VAT or transfer duty to SARS. When an immovable property is transferred, either VAT or transfer duty is payable. To determine whether VAT or transfer duty […]