Minister of Finance, Nhlanhla Nene, delivered the National Treasury’s budget for 2015/2016.
From a property transaction perspective, there has been considerable change as:
• The transfer duty threshold has been increased to R750,000 but so too has the transfer duty rates in the applicable bands with the highest rate up to 11% (8% in 2014).
• The CGT inclusion rates for individuals, special trusts as well as ordinary trusts have increased nominally.