KYLE AND GRACE MOCK EXAM : 20 QUESTIONS 30 MINUTES (SAME AS EPDW)

The value of the shares held in the JSE, for estate duty purpose is:

Select the correct amount.

The policy on the life of Kyle which is payable to Grace, forms part of deemed property when calculating estate duty as a result of Kyle’s death.

The value which is included is

As a result of Grace adiating the provisions of the joint will, she has donated her assets to a massed estate. Grace does not believe this to be the case.  You believe that :

Select the correct statements

In answering this question, enter numerical only without spaces:  ie: 456789 and not R4 567 890

Kyle’s taxable capital gain as a result of the deemed disposal of his assets on death is R:

The capital gain death exclusion of R300 000, is shared in half as Kyle is married in community of property. Is this statement correct or incorrect.

The value of the usufruct over the massing estate awarded to Grace is

In answering this question, enter numerical only without spaces:  ie: 456789 and not R4 567 890

In relation to Kyle’s  member interest, the market value used in the calculation of a capital gain/ loss is R:

Match the amounts on the right to the entries in the estate duty calculation on the left:

The funeral expenses of R23 000 will be a deduction in the joint estate for estate duty calculations. Is this statement correct or incorrect

In answering this question, enter numerical only without spaces:  ie: 456789 and not R4 567 890

In the estate duty calculation as a result of Kyle’s death, Kyle’s half joint estate is R: 

According to the provisions in S4q of the Estate Duty Act, the deduction allowed is reduced by the amount that a surviving spouse has to give up/ pay.

Is this statement correct or incorrect. Motivate by selecting the correct statement below:

The donation to a S18A organisation which Kyle made to 4PAWS of R250 000, will reflect as a deduction in the estate duty calculation. The deduction allowed is: ENTER NUMERICAL VALUE ONLY WITH NO SPACES INBETWEEN

Grace would have incurred a capital gain/ loss as a result of her adiating the massed asset/s according to the provision in the will. The capital gain tax that she is liable for amounts to:  Select the correct option.

In answering this question, enter numerical only without spaces:  ie: 456789 and not R4 567 890

The executor fees calculated on the assets included in the estate duty amounts to: R 

Select the correct statement in relation to the policy which is payable to Jill.

The master fees which are applicable in the estate duty calculation as a result of Kyle’s death is 

In answering this question, enter numerical only without spaces:  ie: 456789 and not R4 567 890

The capital gain tax that is payable by Kyle’s estate is R:

The expenses incurred for the advertising costs: sundry claims and advertising estate accounts for inspection, which will be included as costs in the estate duty calculation is:

Select the correct answer