SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Explain and apply the basic principles of the Estate Duty Act (45 of 1955) 
SAQA US ID UNIT STANDARD TITLE
119678  Explain and apply the basic principles of the Estate Duty Act (45 of 1955) 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
10392  Demonstrate knowledge and insight into the Estate Duties Act (45 of 1955) as it applies to insurance  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for financial advisors, intermediaries and learners who administer financial products where Estate Duty is applicable. It introduces a basic knowledge of the Estate Duty Act, but does not qualify the learner to practice Estate Planning.

The qualifying learner is capable of:
  • Explaining the purpose of the Estate Duty Act.
  • Analysing the property and deemed property in an estate.
  • Calculating the duty on an estate.
  • Explaining the possible impact of the Estate Duty Act on financial service products. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Communication at NQF Level 3
  • Mathematical Literacy at NQF Level 3
  • Financial Literacy at NQF Level 3 

  • UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • The basic principles of the Act and where it fits in to the range of taxation.
  • Financial services products include, but are not limited to, life, investment and retirement fund benefits.
  • Life benefits include group life and business insurance including keyman insurance. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the purpose of the Estate Duty Act. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Reasons for the existence of the Act are identified in relation to taxation. 

    ASSESSMENT CRITERION 2 
    The concept of an Estate is explained with examples. 

    ASSESSMENT CRITERION 3 
    The concept of Estate Duty is explained with reference to an individual's property. 

    ASSESSMENT CRITERION 4 
    The relationship between Income Tax, Capital Gains Tax, Donations Tax and Estate Duty is explained with reference to the part of wealth addressed by each tax. 

    SPECIFIC OUTCOME 2 
    Analyse the property and deemed property in an estate. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of property is explained with examples. 

    ASSESSMENT CRITERION 2 
    The concept of deemed property is explained with examples. 

    ASSESSMENT CRITERION 3 
    The Act is used to determine whether an item is classified as property or deemed property. 

    ASSESSMENT CRITERION 4 
    Property to be included for the purpose of duty on the estate is identified from the Act for three different scenarios. 

    SPECIFIC OUTCOME 3 
    Calculate the duty on an estate. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The value of the property and deemed property is calculated for an estate. 

    ASSESSMENT CRITERION 2 
    The net value of the property is calculated for an estate with due regard for exemptions and deductions allowed under the Act. 

    ASSESSMENT CRITERION 3 
    The duty due on an estate is calculated according to the Act. 

    SPECIFIC OUTCOME 4 
    Explain the possible impact of the Estate Duty Act on financial services products. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Retirement fund benefits that are dutiable are analysed for three case studies. 

    ASSESSMENT CRITERION 2 
    The effect of life benefits on the dutiable amounts in the estate is explained for three case studies. 

    ASSESSMENT CRITERION 3 
    The effect of business insurance on the dutiable amounts in the estate is explained for three case studies. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • This Unit standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
  • An individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA according to the policies and guidelines for assessment and moderation of that ETQA, at its discretion, in terms of agreements reached about assessment and moderation between various ETQAs (including professional bodies). 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in analysing case studies relating to the Estate Duty Act. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in accessing information from the Act and in explaining the various sections of the Estate Duty Act. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 10392, "Demonstrate knowledge and insight into the Estate Duties Act (45 of 1955) as it applies to insurance", Level 4, 2 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Reregistered  2023-06-30  INSETA 
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. CKP Development Agency (Pty) Ltd. 
    4. De Vries Management & Training Services cc 
    5. DSBI (Pty) Ltd 
    6. Faisit (Pty) Ltd 
    7. Intec College 
    8. Invuya Institute of Learning (Pty) Ltd 
    9. Masifunde Training Centre (Pty) Ltd 
    10. Old Mutual Life Assurance Company South Africa 
    11. Ray Strodl Consulting (Pty) Ltd 
    12. RJM Educational Consulting PTY LTD 
    13. Sanlam Life Insurance Ltd 
    14. Sanlam Life Insurance Ltd. 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.