Page 187 - ADVANCED TAXATION - Day 1 Slides

DONATIONS TAXONATIONS TAX
D

Inheritance

• No, an asset inherited is a ‘capital receipt’ and is therefore not

included in the taxpayer’s gross income. Therefore, in South

Africa, there is no tax payable by a person who receives an

inheritance. Capital Gains Tax (CGT) is also not payable by the

recipient of an inheritance. CGT, where applicable, are usually

payable by the estate.

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