BJM Private Clients, a member of the BJM financial services group, today (Thursday Feb 18) welcomed the prospect of a review of the taxes that are levied when someone dies.
The review was announced in yesterday’s maiden Budget speech by Finance Minister Pravin Gordhan.
Tony Barrett, CEO of BJM Wealth at BJM Private Clients, commented: “We are delighted by the Minister’s decision. A review is overdue in view of perceived unfairness.
“Both estate duty and Capital Gains Tax are payable on death, which is perceived as giving rise to double taxation. Estate duty is cumbersome to manage and administer and brings in very little tax.
“A review of taxes upon death and the manner in which such taxes are implemented is therefore timely.”
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