Transfer Duty Refund

[the eskimo]

Between paying the transfer duty over to the conveyancing attorneys and registration, the tables for transfer duty has changed, and therefore the transfer duty due by me would be a bit less.

Does anybody know how to go about claiming this refund? Is it through the attorneys as they have their own e-filing interface for transfer duty, or is there a way to claim it when I submit my tax return for the period when the property was registered?

 

[ToxicBunny]

Was the transfer lodged BEFORE the tables were altered or after?

(work on roughly 7 working days before you were notified of the transfer being completed)

 

[the eskimo]

I've received some clarifiation from the attorneys, and is confirmed here on p11and p86. http://www.sars.gov.za/AllDocs/OpsDocs/Guides/LAPD-TD-G01 - Transfer Duty Guide - External Guide.pdf

The date of acquisition (which is the date used for the calculation of duty) is the date where the OTP is signed, and not the date of registration.

Guess I'm not getting a refund then.

 

[ToxicBunny]

Well, then nope you aren't.....

 

[heartbroken]

I've received some clarifiation from the attorneys, and is confirmed here on p11and p86. http://www.sars.gov.za/AllDocs/OpsDocs/Guides/LAPD-TD-G01 - Transfer Duty Guide - External Guide.pdf

The date of acquisition (which is the date used for the calculation of duty) is the date where the OTP is signed, and not the date of registration.

Guess I'm not getting a refund then.

Same thing happened to me around 2011 (iirc) signed on the 21st, new tables came into effect the end of the same month. Had to pay the old rates, been there, done that, could not afford the T-Shirt

 

[Shnookums]

what are the going Transfer Duty rates for a property worth R1.4mil? I got a invoice from transferring attorney and it seems a bit steep to me. can anyone help me out....

 

[Ho3n3r]

what are the going Transfer Duty rates for a property worth R1.4mil? I got a invoice from transferring attorney and it seems a bit steep to me. can anyone help me out....

R71 457, according to this.

http://www.rawson.co.za/transfer-cost-calculator

 

[CamiKaze]

You can try to get a max of 30% discount as well.
You just need to ask.

 

[CamiKaze]

You can try to get a max of 30% discount as well.
You just need to ask.

 

[Sonic2k]

You can try to get a max of 30% discount as well.
You just need to ask.

Thanks for that most useful information... didn't know that.

 

[mjwitter]

You can try to get a max of 30% discount as well.
You just need to ask.

You can get a discount on transfer fees, not really on transfer duty.

 

[CamiKaze]

You can get a discount on transfer fees, not really on transfer duty.

Aah sorry my mistake.

 

[zerocool2009]

I agree. To save even more ... try to get a bond from the bank where you bank, but a second bond. They might pay your bond free leg of the transaction. FNB has something like that

 

[Shnookums]

wow thanks for that

 

[bokka1]

what are the going Transfer Duty rates for a property worth R1.4mil? I got a invoice from transferring attorney and it seems a bit steep to me. can anyone help me out....

The Transfer Duty will be R24 000 and that is payable to SARS, no discounts available there.

 

[zerocool2009]

The Transfer Duty will be R24 000 and that is payable to SARS, no discounts available there.

True that. 2 things are certain in life ... SARS and DEATH ... lol