July 12, 2023

Deducting income tax and CGT for estate duty

Is subjecting taxpayers to estate duty on post-death asset growth appropriate? IN 1789 Benjamin Franklin said that “in this world nothing can be said to be certain, except death and taxes”. He was right about death—but anyone who has had to interpret our tax laws would know that the task is fraught with uncertainty. This article examines whether income tax (including CGT) can be deducted from the net value of an estate for estate duty purposes. The net value of a deceased estate under the Estate Duty Act 45 of 1955 is equal to the total value of all property […]
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