DEFINITION
Inheritance is the property, titles, debts, entitlements, privileges, rights, and obligations an person passes onto their loved ones after they die.
Ever heard of Inheritance Tax?
Inheritance tax is the tax payable by the deceased’s estate. It includes (where applicable):
- Estate Duties
- Capital gains tax
- Income Tax
- Donations Tax
Information Source:
Wikipedia
https://en.wikipedia.org/wiki/Taxation_in_South_Africa#Inheritance_tax_/_Estate_duty
