Transfer Duty: If you purchase a property for whatever purchase price and the fair value of the property is more than R 1 million, you will pay transfer duty on the transaction to SARS. The amount of transfer duty payable…
So you have decided to purchase property in South Africa; well done! That's an excellent decision. Did you know that when you purchase immovable property in South Africa, you are actually buying the land and everything built on the land? Except…
Finance Minister Tito Mboweni delivered the much-anticipated Budget Speech 2020 on 26 February, addressing major economic concerns across industries and sectors. Mboweni announced that South Africa would be utilising appropriate measures of fiscal discipline to cut expenditure, while not overwhelming…
Buying your very first home is one of the most exciting times in one's life. However, this experience can come with its own unique challenges if you are not adequately prepared. In most cases, individuals will need to secure a…
The South African Reserve Bank has officially cut its interest rate, following the unanimous decision by the Monetary Policy Committee - lowering the repo rate from 6.75% to 6.5% per annum for the first time since March last year. Met…
If you are considering buying a property or if you are in the process of purchasing a home, you would have heard the terms VAT (Value Added Tax) and Transfer Duty. Such a transaction will always be subject to either…