From 1 March 2017, the 1st R900 000 on a property purchase price will be exempt from transfer duty payable to SARS. This equates to a saving of R4500 from last year’s duty.
Trusts remain the highest taxed property-owning entities, with income tax increased from 41 to 45%, and capital gains tax hikes from 32.8 to 36%.
On a lighter note, the rand is at an incredible R13/ dollar today!
STBB Director Refqah Ho-Yee
Tel 021 673-4700 / 082 782 7771