Changes with effect from 1 March



Transfer duty The purchase of fixed property is subject to transfer duty on a sliding scale when bought by natural persons and at a fixed rate of 10 per cent for properties acquired by juristic entities. In the case of fixed property bought by natural persons, the first R150 000 is not subject to transfer duty. Given the steep increases in property prices during the last few years, it is proposed to increase the exempt threshold from R150 000 to R190 000 and the second threshold from R320 000 to R330 000 with effect from 1 March 2005. For full schedules on: 1. Proposed rates of transfer duty, 2005/06 2. Current and proposed transfer duty Refer to the Budget Guide 2005 - on the SARS website www.sars.gov.za