At death, capital gains are deemed to have been realized, even if there has been no disposition of the assets. This is an insidious form of inheritance tax. This is the more so as all the gains are taxed at the highest possible marginal rates, and attract probation fees on top of income taxes. No deduction is allowed for the impact of inflation on the adjusted cost base, meaning that real costs are not deducted against real gains in the computation of capital gains.