 Hei, mērnau, jazad Alghada here from ArtProtect and today we're going to be tackling a query that comes up quite often. People are a little confused around what the different consequences are of if I buy a property into my name, or into a closed corporation, or into a company, or into a trust. Many years ago there were different rates relevant to different entities that acquired property. The law has changed quite some time back and for a number of years now everybody pays the same rate. So whether you buy a property into your name, into a closed corporation, into a PDIW limited or into a trust, the rate is exactly the same. The Minister in his budget speech just a couple of weeks ago has raised the new transfer duty rates and the rest follows. Any acquisition under 750,000 rand, no transfer duty. Property acquisitions from 750,000 rand to 1.25 million is 30%. From 1.25 to 1.75 it is 15,000 plus 6%. From 1.75 to 2.25 it is 45,000 plus 8%. Anything over 2.25 million is 85,000 plus 11% of any value over that. Just to also conclude, sometimes VAT is applicable to a transaction. Often you will see advertisements that will stipulate no transfer duty. Don't be duped, you are paying VAT at a rate of 14%, which is in fact higher than buying a property into your own name and paying transfer duty. The only upshot of course is if you are buying a property from a developer that includes VAT, the banks are going to fund that portion. So it is lighter on the pocket or you don't have to come up with those extra duties or costs, but just note that there is VAT at 14%. Commercial property is also a different kettle of fish. You sometimes are able to zero rate property transactions if the property is being conducted as a letting enterprise. So you can buy one or buy a property from a seller that is a VAT vendor into an entity that is a VAT vendor too and you can zero rate the transaction. There is no duty and there is also VAT charged at a zero rate. So in conclusion, no difference whether you buy into your own name, a CC or PDI or trust. So don't let that be a factor that would dissuade you from using a particular structure and also remember commercial property is VAT.