A deceased estate takes on a (tax) life of its own while being wound up
I STARTED my first job back in September 1987 at the tender age of 18, and approximately nine months later I received my very first income tax return from the Receiver of Revenue (as SARS was known in those days), and I’ve been required to complete an annual return ever since.
With my dear late mother having lived to age 82, I can safely assume that should God bless me with the same number of years here on earth, I’ll have submitted 64 tax returns during my lifetime. One would therefore think that by the time I depart this mortal coil, SARS will have had enough of me and will happily close my tax file for good.
However, that is not the case.
When a person dies, their executor is required to submit a final tax return for the deceased person, covering the period from the beginning of the tax year up to the date of death. The executor is also required to register the estate itself as a taxpayer, and will be responsible for completing returns for…
Join Now
