23 May 2016 at 9:51
I recently purchased a property for residential use. The conveyancers submitted a Transfer Duty to SARS and the transfer fees equated to R12600. I normally get an IRP5 and medical aid forms from my company and submit my income tax when season opens. My question is what do I do with the transfer duty declaration for SARS issued me to be considered and is there any way of getting any refund on this transfer fees.
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23 May 2016 at 10:19
Unfortunately, you cannot claim back the transfer fees however they are included in the base cost of the property and therefore will reduce the capital gains tax payable when you sell the property one day.