THE HONGKONG GOVERNMENT GAZETTE, MAY 28, 1915.
(2.) Property situate outside the Colony.
(3.) Any share or other interest of a deceased member of a company registered in a local register under the Companies Ordinance, 1911.
7. For determining the rate of estate duty to be paid on any property passing on the death of the deceased, all property so passing in respect of which estate duty is payable shall he aggregated so as to form one estate.
Aggregation
of property to form one estate for purpose of estate duty. 57 and 58
Vict. c. 30, s. 4.
8.--(1.) Estate duty shall be payable as hereinafter Payment of mentioned.
estate duty.
57 and 58 Vict. c. 30, s. 6.
(2.) The executor of the deceased shall pay the estate Collection duty in respect of all property of which the deceased was and recovery. competent to dispose at the date of his death by stamps affixed to the affidavit for the Commissioner and may pay in like manner the estate duty in respect of any other pro- perty passing on such death, which by virtue of any testamentary disposition of the deceased is under the control of the executor, or, in the case of property not under his control, if the persons accountable for the estate duty in respect thereof request him to make such payment.
values.
(3.) Where the executor does not know the amount or Provision value of any property which has passed on the death, he for unknown may state in the affidavit for the Commissioner that such property exists, but that he does not know the amount or value thereof and that he undertakes as soon as the amount and value are ascertained to bring in an account thereof and to pay both the estate duty for which he is or may be liable and any further estate duty payable by reason thereof for which he is or may be liable in respect of the other property mentioned in the affidavit.
tor.
(4.) Estate duty so far as not paid by the executor shall Collection be paid by stamps affixed to an account setting forth the from others particulars of the property and delivered to the Commis- than execu- sioner within 6 months after the death, by the person accountable for the estate duty; or within such further time as the Commissioner may allow.
(5.) Every estate shall include all income accrued upon Estate the property included therein down to and outstanding at includes the date of the death of the deceased.
accrued income.
(6.) Interest at the rate of 4 per cent. per annum on the Interest estate duty shall be paid from the date of the death up to payable on the date of the delivery of the affidavit or account, or the estate duty. expiration of 6 months after the death, whichever first happens, and shall form part of the estate duty and subject as aforesaid interest at the rate of 8 per cent. per annum for the period during which it remains unpaid shall accrue on the estate duty payable.
(7.) The estate duty which is to be collected upon au Date when affidavit for the Commissioner or on an account, shall be duty shall due on the delivery thereof or on the expiration of six become due. months from the death whichever first happens.
9.-(1.) In determining the value of an estate for the Allowance purpose of estate duty allowance shall be made for reason- for debts able funeral expenses incurred in the Colony not excced- and funeral ing $1,000 or 23 per cent. of the ascertained value of the expenses. estate, whichever is the smaller, and for debts and incum- 57 and 58
Vict. c. 30, brances, but an allowance shall not be made:-
s. 7 (1).
(a.) for debts incurred by the deceased, or incum- brances created by a disposition made by the deceased, unless such debts or incumbrances were incurred or created bona fide for full con- sideration iu money or money's worth wholly for the deceased's own use and benefit and take effect out of his interest; nor
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