38457-1914-Supplementary-Estate-Duty-Bill — Page 4

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(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 bis 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.

than execu-

(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- tor. 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.) 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 ou the date of the delivery of the affidavit or account, or the estate duty. expiration of 6 months after the death, whichever first happeus, 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 acerue on the estate duty payable.

become due.

(6.) The estate duty which is to be collected upon an Date when affidavit for the Commissioner or on an account, shall be duty shall

ne on the delivery thereof or on the expiration of six 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 exceed and funeral ing $1,000 or 2 per cent, of the ascertained value of the expenses. estate whichever is the smaller and for debts and incum- brances but an allowance shall not be made :----

(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 bonâ fide for full con- sideration in money or money's worth wholly for the deceased's own use and benefit and take effect out of his interest; uor

(6.) for any debt in respect whereof there is a right to reimbursement from any other estate or person unless such reimbursement cannot be obtained; nor

(c.) more than once for the same debt or incum- brauce charged upon different portions of the estate;

and any debt or incumbrance for which an allowance is made shall be deducted from the value of the property liable thereto.

resident out of the Colony.

(2.) An allowance shall not be made in the first instance Debts due for debts due from the deceased to persons resident out of to persons the Colony (unless contracted to be paid in the Colony or charged on property situate within the Colony) except out of the value of any property of the deceased situate out of the Colony in respect of which estate duty is paid; and there shall be no repayment of estate duty in respect of such debts, except to the extent to which it is shown to the satisfaction of the Commissioner, that the property of the deceased situate in the country in which the person to whom such debts are due resides, is insufficient for their payment.

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