tax information on monetary thresholds
26 February 2007

The exemption threshold for estate duties would be increased to R3.5-million from R2.5-million, the Treasury said on Wednesday.

In its review document relating to the 2007-2008 Budget, it said that the monetary threshold below which no capital gains tax would be imposed at death would also rise to R120 000 from R60 000.

The threshold below which no donations tax is payable would rise to R100 000 from R50 000.

In a related move that will be welcomed in many quarters including the South African Police Services, the Treasury said payments in respect of death while at work would be tax-free up to a cap of R300 000.

i-net bridge, angus macmillan, www.business.iafrica.com

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