KEY
2004 BUDGET INITIATIVES
For
Individuals -- Streamline Estate Duty Processes
z
For
deaths occurring on or after 1 January 2005, the first six months from
the date of death will now be an interest-free period.
Executors/administrators will now have 6 months from the date of death
to file a complete return to IRAS before interest starts accruing on
the duty.
z
After
the Notice of Assessment has been issued by IRAS, the
executor/administrator will have a 30-day grace period to make
payment.
For
details, please refer to the official Budget 2004 website: www.budget2004.gov.sg.
MINISTRY
OF FINANCE
27 FEBRUARY 2004