The window period during which you can transfer property in a trust, company or close corporation into your own name without paying transfer duty, secondary tax on companies or capital gains tax (CGT) may be extended.
In documents released with the Budget this week, the South African Revenue Service says it has found that the two-year window period, which was to run from January 1 this year to December 31 next year, is insufficient. A new, more flexible window period will be proposed in draft legislation later this year.
If you take up this offer, any CGT owed will be deferred until you dispose of the property.