Tag: donations tax

Proposed Changes to the Donations Tax Exemption Between Spouses

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Estate planning documents and a calculator, representing South Africa's proposed changes to the donations tax exemption for property transferred between spouses

South African couples have long been able to transfer property between spouses free of donations tax, regardless of where either spouse lives for tax purposes. A draft amendment currently before Parliament proposes to end that blanket exemption where the receiving spouse is not a South African tax resident, with an effective date reaching back to…

Donations Tax: Estate Duty

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lots of paperwork, a computer mouse, a coffee cup and a pen

What is Estate Duty? Estate Duty is payable on the estate of every person who dies and whose nett estate is in excess of R3.5 million. It is charged at the rate of 20%. Estate duty is levied on the property of residents and South African property of nonresidents less allowable deductions. The duty is…