Estate Duty
in plain language
A tax on the value of someone's estate when they pass away. The first R3.5 million is tax-free, and the tax only applies to the amount above that threshold.
formal definition
A tax levied on the estate of a deceased person under the Estate Duty Act 45 of 1955. It is calculated on the dutiable amount of the estate (net value above the abatement of R3.5 million for individuals).