Estate Duty Rules: Estate Duty

Key requirements

For earlier deaths, duty concerns the market value of the estate at death, subject to exemptions. The historical asset scope can include sole-name property, a share of jointly held assets, certain gifts within five years and gifts or trusts retaining personal benefit. Singapore immovable property can be included, while foreign immovable property is excluded under the described rules. The page also covers bank accounts, listed shares and safe-deposit contents. Do not treat these legacy valuation duties as applying to a recent death. Income earned by an estate after death is a separate income-tax issue and can remain reportable despite removal of estate duty.