Property / News Flashes

Property News Flash No 01/2020 - Transfer Duty announcement Budget Speech 2020

Posted 28 February 2020

Finance Minister Tito Mboweni announced, as part of the 2020 Budget Speech, that transfer duty will no longer apply to properties with a purchase price of R1 million and less.

Previously the threshold was R900 000.

The abovementioned will come into effect on all offers accepted on and after the 1st of March 2020.

In addition to these good news there is also relief related to the Purchase Price intervals and calculations as per table below:

View the Table