Page 27 - P6 Slide Taxation - Lecture Day 3 - Donations Tax & Estate Duty.
P. 27

Deemed property:  Domestic life




                                            insurance policies






       • Value of property:


              – If deceased paid premiums:  Proceeds of policy



              – If person other than deceased paid premiums:  Proceeds

                   of policy less (premiums paid plus interest at 6% per


                   annum)


              – If spouse married in community of property paid


                   premiums: Proceeds of policy less (50% of premiums

                   paid plus interest at 6% per annum)







              – Included in the estate of the person whose life was

                   insured, irrespective of who the beneficiary is
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