CGT
According to an ancient Chinese proverb, ‘The best time to plant a tree was twenty years ago; the second-best time is now’.
The length of the winding up process largely depends on the size and structure of the deceased estate, but can also be delayed in instances where the deceased died of unnatural causes, where the Will is contested, where there are
Special trusts are those which are created for people with special needs, for example individuals with serious mental or physical disability and who are unable to provide for themselves financially.
As is evident, the process of winding up an estate is lengthy, time-consuming and administratively intensive. It also requires that the Executor has a good understanding of accounting, finance and tax.
When it comes to factoring in Capital Gains Tax it is important to bear in mind that CGT may be applicable to both a unit trust investment and a rental property.
Municipal rates and taxes are calculated based on the market value of your home, which means that larger homes with a higher market value will have higher municipal rates. Speak to the seller of the property about what they are
Tax legislation permits you to invest up to 10% of your taxable income towards charity on a tax-deductible basis, although it is important to know that this tax deduction is not automatic.
