Transfer duty brackets will be increased by 10%, (2023 Budget speech)

The Minister of Finance announced in today’s Budget 2023 speech that the transfer duty brackets will be increased by 10%, which allows properties with a purchase price of R1,100,000 or lower to be fully exempt from the transfer duty. The previous threshold was R1,000,000.  This new threshold of R1,100,000 will be effective from 1 March 2023.

Below is a table of the revised 2023/24 transfer duty brackets, compared to the 2022/23 fiscal year:  (Our transfer duty calculators will be revised in accordance with these transfer duty adjustments)