Capital Transfer Tax
transfers of capital assets during the life of the transferor are taxed at the date of the transfer
differing rates of tax are charged on transfers between living persons (gifts inter vivos) from those charged on transfer on death
all transfers by the same individual whether inter vivos or on deaths are cumulative and tax is charged by reference to the aggregate of all transfers, so that the more transfers of value made by that individual inter vivos the higher the rate of tax eventually charged on death.
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