Death & Taxes: Estate Duty, Income Tax & VAT
Presenters : Carmen Westermeyer
Overview
There are only a few certainties in life—death, taxes, and change. Of these, we have the most control over tax consequences, which are inevitable. But how well do you understand the tax implications that arise upon death? Did you know that, in addition to Estate Duty, there are also significant income tax consequences?
This video provides a comprehensive overview of the key tax consequences that must be considered and accounted for when a taxpayer passes away.
Video Content
- Income Tax Consequences upon Death: Exploring the implications for both the deceased individual and their estate, with a focus on sections 9HA and 25 of the Income Tax Act.
- Estate Duty: An overview of the estate duty consequences triggered by death.
- VAT Considerations: Understanding the VAT consequences applicable upon death.
Competencies Developed
By watching this video, participants gain the following competencies:
- Ability to calculate income tax liabilities for the deceased, the estate, and heirs.
- A solid understanding of Estate Duty and its application.
- Insight into how tax consequences impact estate planning.
- Practical knowledge of the executor’s tax-related responsibilities.
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