business assets
In respect of a typical, non-conforming business assurance policy, the premiums are not tax deductible. However, the proceeds paid from the policy will then not be taxed and the buyer will have access to the full amount required to purchase
In terms of the Estate Duty Act, the proceeds of all domestic policies paid to a deceased estate will be considered deemed property and therefore subject to estate duty. However, legislation provides several exceptions to this general rule, including the
