Page 1076 - SAIT Compendium 2016 Volume2

ESTATE DUTY ACT
VALUATION OF ANNUITIES OR OF FIDUCIARY, USUFRUCTUARY OR OTHER LIMITED INTERESTS IN PROPERTY IN THE ESTATES OF DECEASED PERSONS
promulgated under
GN R1942 in GG 5746 of 23 September 1977
The State President has, under and by virtue of the powers vested in him by section 29 of the Estate Duty Act, 1955 (Act 45 of 1955), made the subjoined regulations: VALUATION OF ANNUITIES OR OF FIDUCIARY, USUFRUCTUARY OR OTHER LIMITED INTERESTS IN PROPERTY IN THE ESTATES OF DECEASED PERSONS - REGULATIONS
UNDER THE ESTATE DUTY ACT, 1955
Calculations for the purposes of the valuation of annuities or of duciary, usufructuary or other limited interests in
property in the estate of any person who died or dies on or after 1 April 1977 shall be made in accordance with the Tables subjoined hereto:
(The regulations promulgated under Government Notice 641 of 13 April 1956 shall continue to apply in relation to the estate of any person who died before 1 April 1977.)
Table A
The Expectation of Life and the Present Value of R1 per Annum for Life Capitalised at 12 per cent over the Expectation of Life of Males and Females of Various Ages.
Age next birthday
Expectation of life
Present value of R1 per annum for life
Age
Male
Female
Male
Female
0
64,74
72,36
8,32791
8,33105
0*
1
65,37
72,74
8,32828
8,33114
1*
2
64,50
71,87
8,32776
8,33091
2*
3
63,57
70,93
8,32714
8,33064
3*
4
62,63
69,97
8,32644
8,33033
4*
5
61,69
69,02
8,32567
8,32999
5*
6
60,74
68,06
8,32480
8,32961
6*
7
59,78
67,09
8,32381
8,32918
7*
8
58,81
66,11
8,32271
8,32869
8*
9
57,83
65,14
8,32146
8,32815
9*
10
56,85
64,15
8,32007
8,32753
10*
11
55,86
63,16
8,31849
8,32684
11*
12
54,87
62,18
8,31673
8,32608
12*
13
53,90
61,19
8,31480
8,32522
13*
14
52,93
60,21
8,31265
8,32427
14*
15
51,98
59,23
8,31029
8,32320
15*
16
51,04
58,26
8,30770
8,32203
16*
17
50,12
57,29
8,30489
8,32071
17*
18
49,21
56,33
8,30180
8,31926
18*
19
48,31
55,37
8,29841
8,31764
19*
20
47,42
54,41
8,29471
8,31584
20*
21
46,53
53,45
8,29061
8,31383
21*
22
45,65
52,50
8,28613
8,31161
22*
23
44,77
51,54
8,28117
8,30912
23*
24
43,88
50,58
8,27564
8,30633
24*
25
43,00
49,63
8,26959
8,30326
25*
26
42,10
48,67
8,26274
8,29981
26*
1068 SAIT CompendIum oF TAx LegISLATIon VoLume 2