Transfer Duty Act- Property Trransfer Assistance

By: Beverley Grobelaar Paralegal Conveyancing  04-28-2010
Keywords: conveyancing, Real Estate Legal Services, CC Registration

In terms of the new Section 9(20) of the Transfer Duty Act, SARS have given all property owners a limited amount of time to transfer the existing property into their personal names if the said property/ies are owned by either a CC, Company or Trust.   The re-transfers are exempt from transfer duty.  Capital Gains Tax will be introduced and payable by all property owners unless the property has been re-transfereed into their personal capacities.  The transfers will be registered on a base cost – ie valuation of the property.   Transfer costs will be due and payable on the said valuation.  Rates, levies and all relevant costs pertaining to a normal transfer will be applicable with the exception of transfer duty.   I work for several Conveyancers and I am able to arrange for fees to be discounted for all interested parties wishing to take re-transfer of their existing properties.   Should you require any further information or assistance, kindly do not hesitate to contact me in this regard.

Keywords: CC Registration, conveyancing, Paralegal, Real Estate Legal Services, Trust Registration

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