Michael Jordary was formerly the head of the sports division at Mikey Clothing ( Pty ) Ltd . On 3 1 December 2 0 2 2 , Michael was on his way home from a New Year s Eve Event, when a drunken driver crashed into him and caused him to lose his life. He is survived by his wife, Leashka ( 5 9 ) , his daughter, Eve ( 3 8 ) and his cousin, Damon ( 5 6 ) . The following assets and liabilities formed part of Michael s estate on the date of his death. The values shown represent the market values of these assets and liabilities on the date of death. Description Market value in Rands Primary residence. The house was originally purchased on 1 6 November 2 0 0 7 for R 1 4 0 0 0 0 0 and sold by the executor for R 4 4 0 0 0 0 0 . 4 4 0 0 0 0 0 A farm on which bona fide farming activities take place in Eshowe, KZN , that had cost R 1 0 0 0 0 0 0 . 5 0 0 0 0 0 0 Holiday home in Cape Town This flat was bequeathed to Damon. In 2 0 1 9 , with the written consent of Michael, Damon effected improvements to this property at a cost of R 1 5 0 0 0 0 . This increased the value of the property by R 5 0 0 0 0 0 . 3 5 0 0 0 0 0 Flat in Pretoria bequeathed to Leashka 2 5 0 0 0 0 0 Shares in JSE listed companies that had cost R 2 0 0 0 0 0 . 6 0 0 0 0 0 Unlisted shares sold for R 1 0 0 0 0 0 8 5 0 0 0 Life insurance policy taken out by Michael Over his lifetime, he paid premiums plus interest of R 3 5 0 0 0 0 . 1 6 5 0 0 0 0 Paintings In August 2 0 2 0 , Michael signed a contract with the state where he agreed that these paintings would be lent to government museum for a period of 4 0 years. 9 5 0 0 0 0 Furniture and appliances 6 8 7 0 0 Cash 4 5 0 0 0 0 5 Michael held the bare dominium over vacant land in Cape Town. Damon holds the usufruct with a remaining period of use of 1 5 years. Upon his death, the bare dominium passed to Eve ( who is not the bare dominium holder ) . The market value of the land on the date of death was R 2 4 5 8 0 0 0 . ? ? ? Michael owned a fiduciary right over a Bed and Breakfast business situated in Hayfields, South Africa, that was valued at R 8 5 0 0 0 0 at the date of his death. The property will be transferred to his cousin Damon. Damon is the fideicommissary as stated in the testamentary will of Michael s father. ? ? ? Master s fees and executor s remuneration 1 2 6 0 0 0 Required: 2 . 1 Calculate the Estate Duty Payable by Michael Jordaray s Deceased Estate? 3 0