Estate tax is charged at 20% of the balance of the estate calculated as follows:
The total value of the estate
Less liabilities
Less the general rebate of R3 500 000.00
Less any exemptions applicable
= Balance of the estate (20% of this amount shall be payable to SARS in respect of Estate tax)
For a detailed discussion and assistance with the winding up of a loved one’s estate or for advice in respect of estate planning, contact the Bothas Incorporated offices.