New transfer cost threshold an unwise move - property expert

Finance Minister Pravin Gordhan made an announcement that the Transfer Duty threshold on home purchases will be raised.

The previous limit on property to attract a 'no transfer cost' was R750 000. It is now R900 000 as announced by the Finance Minister in the 2017 Budget speech on Wednesday.

Steven Delit, property expert with Remax, says this will make a difference and it was not a wise decision. He says government will lose money on transaction costs for for first time home buyers buyers.

Every transaction that goes through is R4500 less and I don't think they understood the impact of this.

Steven Delit, property expert with Remax

Listen to the implications of this decision below:


Recommended

by NEWSROOM AI
Read More
Opinion: High-earners should demand accountability for 45% tax increase

Opinion: High-earners should demand accountability for 45% tax increase

Finance Minister Pravin Gordhan says government plans to tax those earning more than R1.5 million a year by 45%.

Is entrepreneurship given the support it needs in SA?

Is entrepreneurship given the support it needs in SA?

MD of Simodisa talks to Kieno Kammies about whether the budget speech did enough to boost entrepreneurship in South Africa.

SA faces worst economic crisis since '94, budget has no substance - analyst

SA faces worst economic crisis since '94, budget has no substance - analyst

Analyst Duma Gqubule says Gordhan's speech has no plans for economic growth, and he 'actually said nothing about transformation'.

Gordhan did as well as he could - analyst

Gordhan did as well as he could - analyst

Deputy Editor at FM (Financial Mail) says transforming the economy of SA should be a collective effort, not left to one person.

5 most important ways Budget 2017 will tighten your belt for you

5 most important ways Budget 2017 will tighten your belt for you

The Money Show's Bruce Whitfield interviews Personal Finance Journalist Maya Fischer-French.

Friday Mix Listings - 29 May 2015

Friday Mix Listings - 29 May 2015

Details of all arts, lifestyle and entertainment events featured in today's Friday Mix with Sam Cowen.

Popular articles
Idols judge Unathi Nkayi gets intimate - opens up about money, beliefs about it

Idols judge Unathi Nkayi gets intimate - opens up about money, beliefs about it

The Money Show’s Bruce Whitfield interviews Nkayi about her attitude to money (hopes and fears, successes and failures, etc.).

VBS gave Zuma R8.5m before any security was provided for loan - News 24 journo

VBS gave Zuma R8.5m before any security was provided for loan - News 24 journo

News 24 investigative journalist Kyle Cowan reports that Zuma was granted the loan despite the fact that he could not afford it.

'The VhaVenda King is very pained by what happened to VBS and people's money'

'The VhaVenda King is very pained by what happened to VBS and people's money'

The VhaVenda King's spokesperson Mathivha Makonde says the King is calling on authorities to help him correct the wrong.

Journos provide fresh insights into the latest on state capture inquiry

Journos provide fresh insights into the latest on state capture inquiry

Journalists Karyn Maughan and Erin Bates provide insights into the state capture inquiry.

C-section births have nearly double since 2000 - study

C-section births have nearly double since 2000 - study

Professor Justus Hofmeyr says there are a number of reasons why the number of c-sections has doubled.

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

Check out the videos, tweets, Facebook posts that have gone viral and why this kid cheered her dad on in the toilet.