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A BILL
ANNEX B TO XCR (79)82
ΤΟ
Amend the Estate Duty Ordinance.
Enacted by the Governor of Hong Kong, with the
advice and consent of the Legislative Council thereof.
Short title
and
application.
1. (1) This Ordinance may be cited as the
Estate Duty (Amendment) Ordinance 1979.
(Cap. 111.)
(2) The amendment to the principal Ordinance
made by section 2 shall apply in relation to the
estates of persons dying on or after 1 April 1979.
Amendment of section 6.
2.
Section 6(1)(c) of the principal Ordinance
is amended, in the first proviso, by deleting
"$5,000" and substituting the following
Budget.
"$50,000".
Explanatory Memorandum
This Bill implements a proposal in the 1979
The effect of the Bill is that property which
notionally passes on death for the purposes of
assessing estate duty will not include gifts inter vivos.
made by the deceased which, in the case of any one
donee, did not exceed in the aggregate $50,000. The
existing exemption applies to gifts not exceeding
$5,000.
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