S.L. 123.92 Art. 3Deduction for brokerage fees.

(1) In determining the amount on which tax is payable in terms of article 5A of the Act, there shall be allowed as a deduction from the transfer value brokerage fees, if any, paid by the transferor in connection with the transfer in question.

(2) Brokerage fees shall not be allowable as a deduction unless -

(a) the transferor produces to the notary a signed receipt that shows the date of the payment, the name, a legally valid identification document number and address of the broker and the amount of brokerage fees paid;

(b) the notary records in the deed of the transfer the fees paid and the name and particulars of the broker; and

(c) the notary produces a certified copy of the said receipt to the Commissioner together with the notice of the transfer.

(3) When brokerage fees are paid in respect of more than one transfer the deduction in respect of each transfer shall be such proportion of the total deduction as is equal to the proportion which the value of the respective transfer bears to the total transfer value of those transfers.