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

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

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.

If ANC doesn't budge on Didiza it could bring ANC below 50% in Tshwane elections

If ANC doesn't budge on Didiza it could bring ANC below 50% in Tshwane elections

EWN reports the Tshwane area is calm as residents await ANC decision on Didiza

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
Robots are already replacing financial advisors right here in South Africa

Robots are already replacing financial advisors right here in South Africa

But can they be trusted? Are they independent? Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Retirement: 8 biggest mistakes people typically make…

Retirement: 8 biggest mistakes people typically make…

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.