by VDT Attorneys | Sep 2, 2024 | Art, Deceased Estate, Estate duty, Estate Planning
Following an individual’s passing, their estate may be subject to various taxes including Income Tax, Capital Gains Tax, Donations Tax, Estate Duty, and potentially VAT. The specific tax liabilities will vary based on the types of assets in the estate and the...
by VDT Attorneys | May 29, 2024 | Capital Gains Tax, Deceased Estate, Donation tax, Estate duty, SARS, Situs tax, Tax
Importantly, not all taxes are always applicable to every estate, with the circumstances of a deceased estate determining the applicable taxes. The executor also has has to register an estate with SARS even if the deceased was a pensioner or not registered for tax....
by VDT Attorneys | Mar 19, 2024 | Estate duty, Estate Planning, Farmers, Farming
Upon death, an individual’s estate may be subjected to various taxes, adding an additional financial burden to the estate. Section 9HA of the Income Tax Act 58 of 1962 (“Income Tax Act”) is one of the examples that can especially burden the estate of a farmer...
by VDT Attorneys | Aug 28, 2023 | Capital Gains Tax, CGT, Estate duty, Estate Planning, Tax
The death of a person is a major event resulting in various consequences, both patrimonial, inheritance and taxation. When focusing on the taxation side of the event, several taxes come into play with proper estate planning intended to forecast and plan for these...
by VDT Attorneys | Aug 28, 2023 | Estate duty, Exclusions, Rebates
In addition to allowable deductions and rebates in terms of the Estate Duty Act, there are also property exclusions from estate duty. For example, if a deceased person was ordinarily resident in South Africa, property acquired before becoming ordinarily resident may...
