Page 84 - Taxation Test 4 Slides - Provisional Tax & Estate Duty

ESTATE DUTY

Discussion Example

• Barry Beancounter’s late mother, Exotic (Ex)

Beancounter, passed away during the current year of

assessment and in terms of her last will and testament,

a testamentary trust (the Butterbean Trust) was

formed. Ex was quite a wealthy lady and owned

numerous properties and other assets. In her valid will

Ex bequeathed a portfolio of shares to the value of R1.8

million to Barry (Ex was not a share-dealer). She

excluded this portfolio from the joint estate of Barry

and Bizzie.

• Barry is uncertain as to what Estate Duty and normal

tax (including CGT) implications (if any) have arisen as a

result of her death and has asked you to assist him.

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