property tax
Trimmed transfer duties bring small relief for homebuyers
The lifting of the transfer duty exemption threshold will be welcome news — especially for buyers at the lower end of the market
23 February 2023 - 07:00
Those planning to buy a house this year will welcome the National Treasury’s 10% upward adjustment to transfer duty brackets, which were last amended in 2020.
The upshot of the measures announced in the budget is that the transfer duty exemption threshold will be lifted from R1m to R1.1m. The knock-on effect of the adjustment means most buyers will save on transfer duty from March 1, albeit to a larger extent at the lower end of the market...
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