Page 51 - GA Maclachlan Tax Guide 2024

LEARNERSHIP ALLOWANCES

An annual and completion allowance of R40 000 may be claimed by the taxpayer
for learnerships NQF qualifications from levels 1 to 6, and R20 000 for learnerships
NQF qualifications from levels 7 to 10� The deduction claimable for disabled
learners is R60 000 or R50 000 for both annual and completion allowances�
Where a learnership is terminated before a period of 12 full months the employer
will be entitled to a pro rata portion of the annual allowance, regardless of the
reason for the termination of the learnership� The completion allowance for a
learnership of 24 months or more will be based on the number of consecutive
12 month periods completed × the above annual allowance amount�

TRANSFER DUTY ON IMMOVABLE PROPERTY

■ Calculated on the value of immovable property
■ Payable within six months after the transaction is entered into
■ Exemptions apply with the most notable when the seller is a VAT vendor
■ Where a VAT vendor purchases property from a non-vendor, the notional input
tax is calculated by multiplying the tax fraction (15/115) by the lesser of the
consideration paid or market value
■ The acquisition of a contingent right in a trust that holds a residential
property or the shares in a company or the member’s interest in a close
corporation, which owns residential property, comprising more than 50% of
its assets, is subject to transfer duty at the applicable rate
Transfer duty is calculated as follows:
R1 – R1 100 000 0%
R1 100 001 – R1 512 500 3% of the value over R1 100 000
R1 512 501 – R2 117 500 R12 375 + 6% of the value over R1 512 500
R2 117 501 – R2 722 500 R48 675 + 8% of the value over R2 117 500
R2 722 501 – R12 100 000 R97 075 + 11% of the value over R2 722 500
R12 100 001 + R1 128 600 + 13% of the value over R12 100 000

49