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1 . John, a South African resident, purchased a property for R 2 , 0 0 0 , 0 0 0 on 1 March 2
John, a South African resident, purchased a property for R on March He did not pay any transfer duty at the time of purchase. On October months after the purchase, John decides to settle the transfer duty. According to the transfer duty rates as of March John calculates the duty to be R Given that he is months late beyond the month deadline, and the penalty rate is annually on the purchase price for each month missed after the deadline, what is the total amount John must pay to SARS, including both the transfer duty and the penalty?
Choose the correct option.
R
as transfer duty and R as a penalty, totalling R
R
as transfer duty and R as a penalty, totalling R
R
as transfer duty and R as a penalty, totalling R
R
as transfer duty and R as a penalty, totalling R
None of the above
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