Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town branch of STBB. She is an admitted Attorney, Notary Public, Conveyancer and Insolvency Practitioner with many years of experience in the fields of property law, conveyancing and the laws relating to corporate compliance (especially in respect of the FICA and POPIA laws). Up until 2018 she was also head of the firm’s national marketing portfolio. She is a seasoned public speaker and presenter, both in person and online. She prepares text for the majority of STBB’s internal and external publications and is editor and co-writer for two pivotal publications in the South African real estate industry – the ABC of Conveyancing (JUTA) and Delport’s South African Property Law and Practice (JUTA).

STBB Newsflash : National Budget: March 2023 to end of February 2024

The much anticipated budget speech delivered this afternoon by Finance Minister Godongwana, contained the following highlights:

  • The transfer duty tables will change on 1 March 2023. The entry amount of paying transfer duty is increased to R1 100 000 and the related changes are as follows:

Value of property (R)         Rate
1 – 1 100 000                     0%
1 100 001 – 1 512 500       3% of the value above R1 100 000
1 512 501 – 2 117 500       R12 375 + 6% of the value above R1 512 500
2 117 501 – 2 722 500       R48 675 + 8% of the value above R2 117 500
2 722 501 – 12 100 000    R97 075 + 11% of the value above R2 722 500
12 100 001 and above       R1 128 600 + 13% of the value exceeding
R12 100 000

  • Companies Income Tax: For years of assessment ending on or after 31 March 2023, the rate will be 27% (down from 28%).
  • Personal Income tax tables adjustments are as follows:

Taxable Income (R)         Rate of Tax (R)
(up from the previous R226 000 and the rest of the table follows accordingly)
1 – 237 100                   18% of taxable income
237 101 – 370 500         42 678 + 26% of taxable income above 237 100
370 501 – 512 800         77 362 + 31% of taxable income above 370 500
512 801 – 673 000         121 475 + 36% of taxable income above 512 800
673 001 – 857 900         179 147 + 39% of taxable income above 673 000
857 901 – 1 817 000      251 258 + 41% of taxable income above 857 900
1 817 001 and above      644 489 + 45% of taxable income above 1 817 000

  • Trusts other than special trusts are taxed at a rate of 45%.
  • A tax rebate is offered to individuals for solar PV panels of 25% of the cost for a limited period, subject to certain conditions, and capped at R15 000 per individual.
  • An expected tax incentive is offered to businesses of 125% of the cost of renewable energy assets used for electricity generation, brought into use during a period of 2 years from 1 March 2023.
  • There are no changes to the general fuel levy and road accident fund levy.
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