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inheritance tax

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inheritance tax

1. (in Britain) a tax introduced in 1986 to replace capital transfer tax, consisting of a percentage levied on that part of an inheritance exceeding a specified allowance, and scaled charges on gifts made within seven years of death
2. (in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
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References in periodicals archive
The deferred estate tax is computed using the state death tax credit.
Senator Jim DeMint (R-S.C.) this summer attempted (unsuccessfully) to deep-six the death tax permanently.
Labour called on Lansley to explain why he had changed his mind after cynically exploiting the death tax for political gain during the election.
As a member of the Senate Finance Committee, he has been the chief advocate of Death Tax repeal and pro-growth tax policies, including low tax rates on income, capital gains, and dividends.
Yesterday shadow health secretary Andrew Lansley challenged Mr Burnham at Commons question time, asking him: "Will you now rule out a death tax to pay for the national care service?
But Andrew Lansley, the Conservative health spokesman, said: "The death tax is alive and kicking - despite the Government's attempts to bury it in the small print." * OPINION: Page 13
THE Conservative Party have accused the Government of planning a pounds 20,000 "death tax" to help pay for future social care of the country's increasing ageing population.
THIS death tax to pay for healthcare for the elderly really only applies to people who have saved up to buy their house.
Bitter feuding has broken out in recent weeks over how the service should be funded, with the Tories insisting Labour wants to introduce a pounds 20,000 compulsory charge - dubbed a "death tax" - which Mr Lansley vehemently opposes.
The Conservatives subsequently accused Labour of planning a pounds 20,000 "death tax".
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