Transfer Duty Act- Property Trransfer Assistance
Beverley Grobelaar Paralegal Conveyancing
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.
, Real Estate Legal Services
, Trust Registration