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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Demonstrate knowledge and insight into the Estate Duties Act (45 of 1955) as it applies to insurance 
SAQA US ID UNIT STANDARD TITLE
10392  Demonstrate knowledge and insight into the Estate Duties Act (45 of 1955) as it applies to insurance 
ORIGINATOR
SGB Financial Services 
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
Passed the End Date -
Status was "Registered" 
2002-06-12  2005-06-12  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2006-06-12   2009-06-12  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
119678  Explain and apply the basic principles of the Estate Duty Act (45 of 1955)  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for financial advisors and learners who administer insured products where estate duty is applicable.

The qualifying learner is capable of:
  • Explaining the purpose of the Act.
  • Analysing the property in an estate.
  • Calculating the duty on an estate.
  • Applying the Estate Duties Act to long term insurance. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in Communication, Mathematical and Financial Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is the Estate Duties Act 45 of 1955 as it applies to insurance. 

    Specific Outcomes and Assessment Criteria: 

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

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The concept of wealth tax is explained with examples. 

    ASSESSMENT CRITERION 2 
    2. The relationship of Capital Gains Tax to Estate Duty is explained with reference to the part of wealth addressed by each tax. 

    ASSESSMENT CRITERION 3 
    3. Three case studies are analysed to establish what aspects of the estate are dutiable with reference to the Act. 

    SPECIFIC OUTCOME 2 
    Analyse the property in an estate. 

    ASSESSMENT CRITERIA
     

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

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

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

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

    SPECIFIC OUTCOME 3 
    Calculate the duty on an estate. 

    ASSESSMENT CRITERIA
     

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

    ASSESSMENT CRITERION 2 
    2. The net value of the property is calculated for an estate. 

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

    SPECIFIC OUTCOME 4 
    Apply the Estate Duties Act to long term insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The effect of retirement fund benefits on the dutiable amounts in the estate is explained for three case studies with reference to the Pension Funds Act. 

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

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

    ASSESSMENT CRITERION 4 
    4. The effect of key man insurance on the dutiable amounts in the estate is explained for three case studies. 

    ASSESSMENT CRITERION 5 
    5. 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 INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information relating to the Estate Duties Act. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in explaining the various sections of the Estate Duties Act. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 119678, which is "Explain and apply the basic principles of the Estate Duty Act (45 of 1955)", 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  48640   National Certificate: Financial Services Management  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  INSETA 
    Elective  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2007-02-11  Was INSETA until Last Date for Achievement 
    Elective  24396   National Certificate: Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2006-10-08  Was INSETA until Last Date for Achievement 


    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. Discovery Life Ltd 
    2. Faisit (Pty) Ltd 
    3. Intec College 
    4. Invuya Institute of Learning (Pty) Ltd 
    5. Sanlam Life Insurance Ltd 
    6. 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.