Tuesday, June 23, 2009

Property owned by foreigners in South Africa

Some tax rules must be considered by foreigners owning immovable property in South Africa.
Any gain on the sale of the immovable property sold in SA by a foreigner is subject to Capital Gains Tax. This includes property held through a company or a trust if certain conditions are met.

On the sale, transfer duty is also payable.

Be careful to take these taxes into account when buying and selling property in South Africa.

For more information contact Daniel N Erasmus at daniel@dnerasmus.com

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