what you should know about death duties in south australia
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What You Should Know about Death Duties in South Australia
In South Australia the Court fee for a Grant of Probate in Common Form is a flat $1,114.00, regardless of the value of the estate.
This will change from 1 January 2016, but only the very smallest estates will see any reduction in the Court fee. Everyone else will be paying more.
The new fee structure will be:
ESTATE VALUE FEE
Up to $200,000 $750.00
$200,000 – $500,000 $1,500.00
$500,000 – $1 million $2,000.00
Over $1 million $3,000.00
Don’t blame the Court or the lawyers – this fee is entirely a South Australian Government decision.
The Court does not keep this fee – it goes into general revenue for the State Government to spend on, well … whatever it wants.
So although the State Government does not call it a Death Duty, if it looks like a duck and quacks like a duck …
Fore-warned is fore-armed.
I have been warning about the return of Death Duties for years now, and I continue to do so. This is not the end of it. See Chapter 7 of my free special report Top 10 Estate Planning Predictions, where I predict that the Federal Government will also reintroduce some form of inheritance tax or death duty.
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