death tax
Noun
Meaning
a tax on the estate of the deceased person
Source: WordNetSynonyms
Hypernyms
Examples
It's time to dispense with the cap on FICA taxes, and then add some other taxes on the wealthy, including a death tax that cannot be loopholed away.
Many of these are the same voters who deserted Labor at the 2019 federal election over concerns about franking credits and a scare campaign about a death tax.
“There is no death tax in Queensland,” the Labor state secretary, Julie-Ann Campbell, said in the public statement on 16 October.
The review cites media coverage of claims about a "death tax" to warn about the danger of misinformation in future campaigns, but it warns of the difficulty of using phone calls and doorknocking to do this.
Officials are set to probe everything from submitting returns and paying tax, to making IHT-free gifts and estate planning - but there is no indication of whether the 40 per cent 'death tax' on estates over a certain level could be cut, or increased.