Amended
rates of
estate duty.
9 & 10 Geo. 5, c. 32, s.29.
Amendment
of Ordinance No. 16 of 1915, s. 4.
Am 'ndment of Ordinance No. 16 of
1915. Third
Schedule.
10
or by virtue of which instrument or instru- ments any property, or any estate or interest in any property, stands for the time being limited to or in trust for any persons by way of succession, and the term settled property means the property comprised in a settle-
meut.
16.-(1) In the case of persons dying after the com- mencement of this Ordinance the scale of rates set out in the Schedule to this Ordinance is substituted for the sale of rates set out in the Schedule to the principal Ordi- nance: Provided that where an interest in expectancy in any property has, before the commencement of this Ordinance, been bona fide sold or mortgaged for full con- sideration in money or money's worth, then no other duty on that property shall be payable by the purchaser or mortgagee when the interest falls into possession than would have been payable if this section of this Ordinance has not been passed, and in the case of a mortgage any higher duty payable by the mortgagor shall rank as a charge subsequent to that of the mortgagee.
(2) Section 4 of the principal Ordinance is amended by the deletion of the word "Second" before the word Schedule in the sixth line thereof and the substitution therefor of the word " applicable".
66
(3) The heading to the Third Schedule to the principal Ordinance and the reference therein to section 13 of that Ordinance is deleted. The Table in the said Schedule may be used in calculating the value of reversionary interests. The words Table for use, where applicable, in the calculation of Reversionary interests" are substi- tuted for the heading deleted by this sub-section and the figures "No. 6 of 1931, s. 16 (3)" are substituted for the said reference to section 13 of the principal Ordinance.
Passed the Legislative Council of Hong Kong, this 26th day of February, 1931.
N. L. SMITH, Deputy Clerk of Councils.
SCHEDULE.
[ss. 4, 10, 12, 13, 18, 19 and 22.]
Where the principal value of the estate
Estate Duty shall be payable at
the rate per
cent of.
明
Exceeds
500
{
and does not exceed
} 5,000
1
""
19
5,000 10,000
"
10,000
2
25,000
25,000
""
,
50,000
50,000
"
"
100,000
5
19
100,000
200,000
6
200,000
""
400,000
7
99
400,000
99
600,000
8
600,000
22
800,000
9
""
800,000
27
1,000,000
10
"2
1,000,000
2,000,000
11
99
2,000,000
12
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