Page 14 - P6 Slide Taxation - Lecture Day 2 - Donations tax and Estate duty.

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