Budget 2008: No More Estate Duty!

Finally, the Govt removes estate duty on deaths wef 15 Feb 08. This was announced in Budget 2008 with other goodies handed out for business and individuals.

Prior to 15 Feb 08, for estate up to $12m, duty was payable at 5%; and 10% if it exceeds $12m, but with the following exemptions:
- Up to $9m for dwelling houses owned
- Up to $600k for other properties (incl CPF)
- CPF monies
- Funeral expenses deductible

* Budget 2008 *