182168-1931-Supplementary-Draft-Bill--Estate-Duty-Amendment — Page 5

Protection

of bona fide purchaser without

notice.

57 & 58

Vict. c. 30,

s. 8 (18).

Affidavits

to be

delivered to

sioner.

90

(7) Nothing in this section shall render a bona fide purchaser for valuable consideration without notice liable to or accountable for estate duty.

(8) All affidavits and accounts required and accounts under this section shall be delivered to the Commissiouer, who shall make such inquiry the Commis- respecting the contents of, or the particulars verified by, such affidavit or accounts and the value of the various properties included therein as he thinks necessary, and the person making or tendering any such affidavit shall attend at the office of the Commissioner, whenever required by him, and shall furnish and pro- duce such explanations and documentary or other evidence as the Commissioner may require.

Final ascer- tainment of amount of estate duty.

Repayment

of excess duty.

57 & 58 Vict. c. 30, s. 8 (12).

Duty to

disclose

liability

to further

(9) When the Commissioner has ascertained the amount of estate duty payable in respect of any accounts delivered to him in pursuance of this Ordinance he shall notify the account- able person of his decision by means of a certificate in the prescribed form. If such amount exceeds the amount of estate duty already paid in respect of the said accounts the accountable person shall forthwith pay the excess to the Commissioner.

(10) In every case in which the Commis- sioner is satisfied that too much estate duty has been paid, the excess shall be repaid by him.

(1) Where the accountable person discovers that for any reason too little estate duty has been paid he shall forthwith deliver to the estate duty. Commissioner a further account, verified by oath, and shall at the same time pay the difference between the estate duty chargeable according to the true value of the estate and the estate duty already paid.

Power to require disclosure of liability to further

estate duty.

l'ower to remit interest on estate duty.

Penalties for breach of foregoing provisions.

57 & 58 Vict. c. 30, s. 8 (6).

(12) Where the Commissioner diseovers that any property which ought to have been disclosed by affidavit or account has not been so disclosed he shall notify the accountable person and call upon him to disclose such property and pay the estate duty thereon, and the accountable person shall, within one month of the giving of such notice by the Commis- sioner deliver an original or a further account, as the case may require, disclosing such pro- perty, and shall at the same time pay the estate duty thereon.

(13) The Commissioner may remit the interest payable on estate duty where the amount of such interest is in his opinion so small as not to repay the expense and labour of calculation and account.

(14) Every person who shall have been called upon after the lapse of one year from the death for an original account, or at any time for a further account, under sub-section (12) and every person who without lawful authority or reasonable excuse fails to comply with any of the provisions of this section shall be liable to pay to the Commissioner, in addition to the estate duty (if any), a penalty of one thousand dollars, or a penalty equal to the amount of the estate duty (if any) at the rate set out in the Schedule remaining unpaid for which he is accountable, according as the Commissioner elects.

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