ESTATE DUTY CALCULATOR

According to the Estate Duty Act of 1955, estate duty is assessed on the amount of a decedent’s estate that is subject to duty. Estate duty levies taxes on the distribution of money or property from the decedent’s estate to the beneficiaries. From March 1, 2018, this duty is assessed at a rate of 25% on the dutiable amount of an estate with a value greater than R30 million and 20% on the dutiable amount of an estate with a value less than R30 million.

The value of the deceased person’s property is added, permitted expenses are subtracted, and finally the Section 4A rebate is subtracted to arrive at the estate’s dutiable value. According to the law, a person’s international assets, which include all real estate and presumed real estate located both inside and outside of South Africa, are considered part of the deceased person’s estate if they were a regular resident of the country. Any overseas assets are excluded from the decedent’s dutiable estate if they were not normally kept in South Africa for tax reasons.

The entire worth of each of your assets is shown here. You must make sure that the total amount for each asset category is shown in these editable fields. Your cost estimate for winding up your estate will be more accurate the more exact these asset values are.