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:
