CHANGES IN TAX

TO ALL ESTEEMED BUSINESS PARTNERS

Number

05/2017

The Minister of Finance delivered the National Treasury’s budget for 2017/2018. The most notable changes effective from 1 March 2017 are as follows:
  • Trust tax rate has increased from 41% to 45%.
  • Transfer duty is exempt on the first R900 000, 00 of the purchase price or value of immovable property acquired. The rest of the tariffs remain unchanged.
  • The rate for the withholding tax for non- residents, in terms of section 35A of the Income Tax Act, has been increased from 5% to 7,5% for natural persons, from 7,5% to 10% for companies and from 10% to 15% for trusts.
For any queries please contact our property law division at the details below:

Allen West

Tel: 012 425 3549

Daleen Loubser

Tel: 012 425 3489
dloubser@macrobert.co.za
  • Disclaimer: This newsflash is for general information only and should not be used as legal or professional advice. No liability can be accepted for any errors or omissions, nor for any loss or damage arising from reliance and any information therein