Explain estate duty briefly
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Estate duty :
A former death duty levied on property from 1889.it was replaced in 1975 by capital transfer tax and in 1986 by inheritance tax.
The federal estate tax is tax on property ( Cash , real estate, stock or other assets ) transferred from deceased persons to their heirs.
An heritance tax is a tax paid by a person who inherits money or property of a person who has died , whereas an estate tax is a levy on the estate of a person who has died.
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