Death duties

By country

• Australia: Abolished the federal estate tax in 1979, and Australian State inheritance taxes (called death duties) were abolished between 1978 and 1982. In 1985, capital gains tax was introduced to tax capital gains on disposal of all assets. But as death is not treated as a disposal, it is only if and when assets are sold after death that capital gains tax is payable. A significant exemption from capital gains tax is the family home, which is exempt from tax if sold within 2 years of death.
• Austria: abolished the Erbschaftssteuer in 2008. This tax had some of the features of the gift tax, which was abolished at the same time
• Canada: abolished inheritance tax in 1972. However, capital gains are 50% taxable and added to all other income of the deceased on their final return.
• Cyprus: Estate duty was abolished for deaths occurring on or after 1 January 2000. Cyprus currently imposes no inheritance, gift or estate tax. Cross-border estates may nevertheless be subject to foreign inheritance or estate taxes according to residence, domicile, nationality or the location of assets.
• Czech Republic: daň dědická. Cancelled in 2013 and is not paid since 1 January 2014. All income from inheritance is now exempt from all taxes (including income tax). Before the reform there was a system of inheritance tax rates depending on the amount inherited and relationship to decedent.
• Estonia: There is no inheritance tax, however the income from inheritance is a subject of the personal income tax, which is at rate 20% and there are also some exempts from the taxation.
• Hong Kong: abolished estate duty in 2006 for all deaths occurring on or after 11 February 2006. (See Estate Duty Ordinance Cap.111)
• India: had an estate tax from 1953 to 1985
• Israel: abolished inheritance tax in 1981, but inherited assets are subject to a 20% to 45% capital gains tax upon their sale
• Kenya: abolished estate duty tax by virtue of the Estate Duty (Abolition) Act No. 10 of 1982
• Malaysia: The tax was abolished in 1991 and there are still discussions about reintroducing going on.
• New Zealand abolished estate duty in 1992
• Norway: abolished inheritance tax in 2014
• Russia "abolished" "inheritance tax" in 2006, but have "fee" with rates of 0.3% up to 100,000 rubles, and 0.6% up to 1,000,000 rubles.
• Singapore: abolished estate tax in 2008, for deaths occurring on or after 15 February 2008.
• Sweden: a unanimous riksdag abolished the inheritance tax in 2004. A retroactive decision exempted deaths during late December 2004 from inheritance tax, due to the many Swedish casualties in the 2004 Indian Ocean earthquake.
• Portugal: the inheritance tax was abolished in 2004, however, there is still a tax called Stamp Duty, applied at a flat rate of 10% on the value of assets located in the country. Nonetheless, spouses, children, grandchildren, parents, and grandparents ("legitimate heirs"), since 2009, are exempt from this tax. Stamp Duty applies to real estate, registrable movable assets (such as cars or boats), and others, but does not apply to personal use items, such as clothes or jewelry, nor to life insurance or pensions from Social Security. It is important that all heirs, including those exempt, declare the assets received to the Tax Authority. The calculation of Stamp Duty, especially for real estate, is based on the property's Taxable Asset Value (VPT). Legitimate heirs are required to declare these assets, even though they are exempt from paying the tax.
• Slovak Republic: Daň z dedičstva. An inheritance tax in Slovak Republic was canceled in 2004, but there are still some exceptions when you are obligated to pay some tax.
• Hungary:The tax was abolished for close relatives (children, parents, spouse etc.), but there is still 18% general tax rate and 9% rate applying to residential property.
• Serbia: There are three degrees of succession and for each there is different tax rate. For the first degree (spouse, partner, children, parents) there is 0% tax rate, for the second 1,5% and for the third 2.5%.
• Bahamas