F6 (Chapter 18, 25-26)-8.pdf

Lifetime transfer Death tax PET 0% Becomes available if the donor dies within 7 years of making the gift CLT Tax available during lifetime Tax available if the donor also dies (exceeds the nil band remaining) within 7 years of making the gift Inheritance tax: scope and transfers of value E.g. 某人于07年12月时有 “transfer of value” (life time transfer), 若是gift between individuals,则是 PET. Life time transfer tax为0. 若该人于10年6月过世, 则是“within 7 years”, 有Death Tax需考虑 若该人于17年6月过世, 则是“not within 7 years”, 没有Death Tax 因此, “Seven years”是一个很重要的判断标准. 从税收政策悟出政府鼓励富人 越早捐赠越好. 5. Calculation of tax on lifetime transfers Lifetime tax: proforma LIFETIME TAX: Gift X Less: AE (X) Less: AE b/f (X) Net gift after exemptions X Less: Nil band remaining: Nil band at date of gift X* less: CLTs in last 7 years before gift (X) (X) X Tax@20% (or 20/80) X * Nil band for 2013/14 is 325,000 Inheritance tax: scope and transfers of value IHT tax paid by Donor or Donee: 1) If Donor pays the IHT tax, Gross Chargeable Transfer=Net gift after exemptions + Tax paid by donor (i.e. IHT计税基础: Loss to donor; Deduction in Donor’s value). E.g. Donor除了捐赠款（假定100万）外，若还要纳税，则Deduction in Donor’s value就超过100万了。 2) If Donee pays the IHT tax, Gross Chargeable Transfer=Net gift after exemptions E.g. Donee拿到了100万,由Donee负责去交税,则Deduction in Donor’s value就只是这100万了。 所以, Donor或Donee负责纳税, 即使是同一笔捐款IHT计税基础也是有差异的 Inheritance tax: scope and transfers of value *Gross Chargeable Transfer is generally used to calculate Nil Band Remaining for Death Tax