Transfer Duty payable on purchase price
R0 – R 900 000 0% 900 001 – R 1 250 000 3% on the value from R900 001 to R1250 000
R 1 250 001 – R 1 750 000 flat rate of R10 500 plus 6% on the value from
R1 250 001 to R1 750 000
R 1 750 001 – R 2 250 000 flat rate of R40 500 plus 8% on the value from
R1 750 0001 to R2 250 000
R 2 250 001 – R10 000 000 flat rate of R80 500 plus 11% on the value
from R2 250 000 to 10 000 000
R10 000 001 and above flat rate of R933 000 plus 13% on the value
above R10 000 000
New Capital Gains Tax rate
Capital Gains Tax (CGT) has increased as follows:- for individuals and special trusts – 18%,
for companies – 22.4%; and for other trusts – 36%.
Donations Tax
Donations Tax stays unchanged and continues to be levied at a flat rate of 20% on the value of the property donated. Current exemptions (i.e. the first R100 000 of property donated by an individual and in the event of a company/trust, casual gifts not exceeding R10 000 per annum) remain the same.
Estate Duty
Estate Duty also stays unchanged and is levied at a flat rate of 20% on the property of residents and non-residents who have property in South Africa. The basic rebate of R3 500 000 on the net value of the estate stays the same.