Hello
My uncle (non resident) owns a property approx 4ha in size in South Africa.
Property developers are interested in purchasing the land, and he is looking for R30 000 000
My basic research online leads me to this conclusion as regards the tax payable.
Sale R 30 000 000.00
7.5% withholding tax R 2 250 000.00
Tax due R 1 656 601.00
+ 45% over R1 656 601 R 12 754 529.55
Total Tax due R 14 411 130.55
Is this correct or have I got the calculations completely wrong?
Thanks
Did you like this article? Share it with your favourite social network.