It was sure to be in this year's budget: a hike in the rate of two taxes which directly hit the rich - estate duty and donations tax.
The two wealth taxes will now be charged at 25 percent, up from 15 percent.
In a surprising move, the estate duty net has not been thrown wider and the R1 million abatement (after which an estate becomes liable for the duty) remains in force. To keep pace with inflation, the annual exemption for donations tax has been increased to R25 000 from R20 000.
The higher rates were effective from March 14 - one day after the budget speech.
In other words, the individual who passed away on March 13 would be taxed at 15 percent on the portion of his estate exceeding R1million, but had he passed on a few minutes after midnight, his estate would be taxed at the sigificantly higher rate of 25 percent.
The hike in estate duty and donations tax is designed to pave the way for a harsher capital transfer tax.
The government has endorsed the principle of this breed of wealth tax, and is waiting for further detailed recommendations by the Katz Commission which are due in October this year.
It is widely expected that the new capital transfer tax will amalgamate estate duty and donations tax, but impose more taxing rates and close the loopholes in the current system.
Until then, there's still time to organise your affairs to pay less estate duty.
Two such means are to take advantage of the annual exemption from donations tax (now R25 000 granted to each individual), and to form a trust which will peg the value of your growth assets.
On the issue of that other infamous tax on wealth, capital gains tax, finance minister Chris Liebenberg reiterated that government will look at the merits and the expected income flow to the fiscus of such a tax at a future date.