Page 62 - Bespoke EPG 2017 Digital

Exemptions from transfer duty
■■ There will be no transfer duty if the purchase price / value is R900,000 or

less.
■■ In the event of immovable property being transferred to a person (including a

close corporation, company or trust) in terms of a Last Will and Testament, or
as a result of intestate succession, no VAT or transfer duty is payable.
■■ The transfer of any property to a surviving spouse or divorced person who
acquires sole ownership in the whole or any portion of property registered
in the name of his or her deceased or divorced spouse where that property
or portion is transferred to that surviving or divorced spouse as a result of
the death of his or her spouse or dissolution of the marriage or union is also
exempt from transfer duty.
Transfer duty and estate planning
■■ The estate planner needs to balance the benefits and financial implications
of transferring assets from one entity to another, taking into account transfer
duty costs, conveyancing fees etc. against the future benefits, bearing in
mind that transfer duties will seldom be payable upon death if the property
remains in the estate planner’s estate.

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