354
THE THIRD SCHEDULE.
Tables of the values of annuities to be used for the calculation
of estate duty on an interest in a property, an annuity or annual sum of money for life. The values of an annuity of $100 per annum held on a single life.
Years of Age.
Value.
Years of Age.
Value.
Years of Age.
Value.
$
$
$
Birth
916
32.
809
64..
426
1
953
33..
802
65.
410
2
958
34...
795
66...
395
3
963
35..
787
67.
380
4
964
36.
779
Ge
366
5
963
37.
770
69.
352
6
960
38.
762
70.
338
7
936
39.
753
71.
325
8
951
40.
743
72
311
9
945
41.
734
73.
298
10
939
42.
723
74...
284
11
932
43.
713
75..
270
12
924
44.
701
76.
255
13
916
45.
689
77.
238
14
908
46.
677
78.
222
15
900
47.
664
79.
:06
16
891
48.
650
80.
190
17
883
49.
635
81
175
18
876
50.
621
82.
160
19
870
51.
606
83.
146
20
864
52..
592
84.
131
21
859
53..
578
85.
117
22
856
54.
565
86.
103
23
853
55.
551
87.
92
24
850
56.
536
83.
82
25
847
57
525
89..
74
26
843
58.
512
90.
66
27
838
39.
499
91
61
28
933
60
486
92.
53
29
୫୬୫
61
471
93.
46
30
822
62
157
94
89
31
816
63
441
95.
32
Objects and Reasons,
The object of this Bill is to ondeavour to place upon a more regular and satisfactory footing than at prosent obtains the law and the administrative arrangements relative to the payment and collection of the Probate Duty leviable upon the estutes of deceased persons.
The general idea underlying the levy of Probate Duty is that the State is entitled to participate to some small extent in the property which passes on the death of au individual to his legal personal representatives. The pro- portion of an estate which is in this way diverted to revenne varies as a rule directly with the value of the property of which the decensed person died possessed.
of
In order to arrive accurately at a determination of the value of a deceased person's property for the purpose ascertaining the rate at which Probate Duty should be assessed and the total amount payable, it is necessary to provide administrative machinery adequate for purpose.
this
The first step towards the attainment of this object is as a rule legislation prohibiting under penalty any person from nulministering or dealing with the estate of a deceased person until Probate of the deceased's will or Letters of Administration of the deceased's estate has been duly obtained.