By Sanette Viljoen
Is estate duty payable by the surviving spouse, if the surviving spouse inherits everything?
Estate duty is a headache for any heir. However, is estate duty payable by the surviving spouse if he or she inherits everything? This question arises frequently and is sometimes overlooked in estate planning.
In answer to the above question, there actually is good news for surviving spouses. When the surviving spouse inherits everything, no estate tax whatsoever is payable.
In such case capital gain tax is also not payable. This especially is good news, as the effect of capital gain tax has been mounting and is a great headache in many estates.
A surviving spouse need not be concerned in this regard. The estate duty and capital gain tax only come into play after the surviving spouse has passed away.