South Africa
Transfer Duty Act, 1949
Act 40 of 1949
- Published in Government Gazette 4193 on 28 June 1949
- Assented to on 23 June 1949
- Commenced on 1 January 1950
- [This is the version of this document as it was from 28 June 1949 to 21 March 1951.]
1. Definitions
In this Act, unless the context otherwise indicates—"Commissioner" means the Commissioner for Inland Revenue; (iv)"date of acquisition" means, in the case of the acquisition of property by way of a transaction, the date on which the transaction was entered into, irrespective of whether the transaction was conditional or not or was entered into on behalf of a company already registered or still to be registered and, in the case of the acquisition of property otherwise than by way of a transaction, the date upon which the person who so acquired the property became entitled thereto: Provided that where property has been acquired by the exercise of an option to purchase or a right of preemption, the date of acquisition shall be the date upon which the option or right of pre-emption was exercised; (ii)"declared value" in relation to property means the value of the property as declared in the declaration completed in terms of section fourteen by the person who has acquired the property; (viii)"deeds registry" includes the office of the Registrar of Mining Titles and the Office of the Rand Townships Registrar; (vi)"fair value" in relation to property means the fair market value of that property as at the date of acquisition thereof: Provided that where property has been acquired by the exercise of an option to purchase or a right of pre-emption, the fair value in relation to that property shall be the fair market value thereof as at the date upon which the option or right of pre-emption was acquired by the person who exercised the option or right of pre-emption; (i)"property" means land and any fixtures thereon, and includes—(a)any real right in land but excluding any right under a mortgage bond or a lease of property other than a lease referred to in paragraph (b) or (c);(b)a lease or sub-lease of any lot or stand which is registrable in the office of the Rand Townships Registrar in terms of the Registration of Mining Rights Proclamation, 1902 (Proclamation No. 35 of 1902, Transvaal) as read with section one of the Mining Titles Registration Act, 1908 (Act No. 29 of 1908, Transvaal);(c)any right to minerals (including any right to mine for minerals) and a lease or sub-lease of such a right; (iii)"registration officer" means the person who is in charge of a deeds registry; (v)"transaction" means an agreement whereby one party thereto agrees to sell, grant, donate, cede, exchange, lease or otherwise dispose of property to another, or any act whereby any person renounces any interest in or restriction in his favour upon the use or disposal of property. (vii)2. Imposition of transfer duty
Subject to the provisions of section nine, there shall be levied for the benefit of the Consolidated Revenue Fund a transfer duty (hereinafter referred to as the duty) of two pounds per centum on the value of any property (which value shall be determined in accordance with the provisions of sections, five, six, seven and eight) acquired by any person on or after the date of commencement of this Act by way of a transaction or in any other manner, or on the amount by which the value of any property is enhanced by the renunciation, on or after the said date of an interest in or restriction upon the use or disposal of that property.3. By whom, when and to whom duty payable
4. Penalty on late payments of duty
5. Value of property on which duty payable
6. Certain payments to be added to the consideration payable in respect of property
7. Certain payments excluded from the consideration payable in respect of property
There shall for the purpose of the payment of duty be excluded from the consideration payable in respect of the acquisition of any property—8. Valuation of consideration payable by way of rent, royalty, share of profits or any other periodical payment, or otherwise than in cash
Where the whole or any part of the consideration in respect of the acquisition of any property is payable by way of rent, royalty, share of profits or any other periodical payment, or otherwise than in cash, the value of the consideration so payable shall, for the purpose of the payment of the duty, be—9. Exemptions from duty
10. Administration of Act
11. Powers of the Commissioner
12. Registration of acquisition of property prohibited where duty not paid
13. Commissioner to recover amount of duty underpaid
14. Declarations to be furnished to Commissioner
15. Records of certain sales of property to be kept
16. Persons who acquire property on behalf of others shall disclose names of their principals
17. Penalties
18. Appeals from decisions of the Commissioner
19. Hearing by judge in chambers of disputes regarding exemption from duty
Any dispute between the Commissioner and any person who claims to be exempt from duty in respect of the acquisition of property may, on application by either party to the dispute, be determined by a judge of the Supreme Court sitting in chambers after hearing the Commissioner and such person or their respective representatives.20. Refunds
If it is proved to the satisfaction of the Commissioner that duty has been paid in respect of an acquisition of property by a person who is or has become, in terms of this Act or any other law as in force on the date of the acquisition, exempt from the payment of duty in respect of that acquisition, or that the amount of duty which has been paid is in excess of the amount payable, he may authorize a refund of the duty paid or of so much of the duty as has been overpaid, as the case may be.21. Repeal of laws
The laws specified in the Schedule are hereby repealed to the extent set out in the fourth column of the said Schedule: Provided that any duty which has at the date of commencement of this Act become payable under any law so repealed, but which has not at that date been paid, shall be recovered in accordance with and subject to the provisions of the said law.22. Short title and date of commencement
This Act shall be called the Transfer Duty Act, 1949, and shall come into operation on the first day of January, 1950.History of this document
22 March 1951 amendment not yet applied
Amended by
Transfer Duty Amendment Act, 1951
01 January 1950
Commenced
28 June 1949 this version
23 June 1949
Assented to
Cited documents 0
Documents citing this one 123
Gazette 101
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Judgment 14
- Anioma Property (Pty) Ltd v DMFT Property Developers and Others (49230/2021) [2023] ZAGPJHC 170 (7 March 2023)
- Anioma Property (Pty) Ltd v DMFT Property Developers and Others (49230/2021) [2023] ZAGPJHC 56 (8 March 2023)
- Commissioner For The South African Revenue Service v Bosch and Another (394/2013) [2014] ZASCA 171 (19 November 2014)
- Commissioner for Inland Revenue v Freddies Consolodated Mines Limited (140/56) [1956] ZASCA 91 (23 November 1956)
- Commissioner for Inland Revenue v Collins (523/1990) [1992] ZASCA 110 (1 June 1992)
- Daniels v Campbell and Others [2004] ZACC 14 (11 March 2004)
- De Leef Family Trust and Others v Commissioner for Inland Revenue (562/1991) [1993] ZASCA 46 (31 March 1993)
- Greater Johannesburg Transitional Metropolitan Council v Eskom (536/1997) [1999] ZASCA 95 (30 November 1999)
- Milner Street Properties (Pty) Ltd v Eckstein Properties (Pty) Ltd (488/1999) [2001] ZASCA 95 (21 September 2001)
- Mpakathi v Kgotso Development CC and Others (334/2003) [2004] ZASCA 81 (20 September 2004)
- Nkosi v S (240/84) [1985] ZASCA 88 (19 September 1985)
- Secretary for Inland Revenue v Wispeco Housing (Pty) Ltd (143/72) [1972] ZASCA 94 (16 November 1972)
- South African Reserve Bank and Another v Shuttleworth and Another [2015] ZACC 17 (18 June 2015)
- Volks NO v Robinson and Others [2005] ZACC 2 (21 February 2005)