43536-1915-Supplementary-Bills-read-a-first-time--Estate-Duty — Page 3

44 and 45 Vict. c. 12, s. 38 (2):

52 and 53

Vict. c. 7, s. 11:

57 and 58 Vict. c. 30, s. 2 (1):

10 Edw. 7 c. 8, s. 59.

44 and 45

Vict. c. 12, s. 38 (2):

52 and 53 Vict. c. 7, s. 11:

37 and 58

Vict. c. 30. s. 2 (1).

44 and 45

Vict. c. 12,

s. 38 (2):

52 and 53 Vict. c. 7, s. 11:

57 and 58 Viet. c. 30, s. 2 (1).

57 and 58 Vict. c. 30, s. 2 (1).

154

said, and of any benefit to him by contract or otherwise, for a period of three years immedi- ately preceding the death of the deceased: And provided that this paragraph shall not apply to any property the interest in which of the deceased or other person was only an inter- est as holder of an office or as recipient of the benefits of a charity or as a corporation sole; (c.) property taken as a donatio mortis causa made by the deceased or taken under a disposition made by him, purporting to operate as an immediate gift inter vivos, whether by way of transfer, delivery, declaration of trust, or other- wise, which shall not have been bonâ fide made three years before his death, or taken under any gift, whenever made, of which property bona fide possession and enjoyment shall not have been assumed by the donee immediately upon the gift and thenceforward retained to the entire exclusion of the donor or of any benefit to him by contract or otherwise: Provided that this paragraph shall not apply to gifts inter vivos which are made in consideration of marriage, or which are proved to the satis- faction of the Commissioner to have been part of the normal expenditure of the deceased, and to have been reasonable having regard to the amount of his income or to the circumstances, or which in the case of any donee do not exceed in the aggregate one thousand dollars in value or amount: And provided that where property taken under a disposition purporting to act as an immediate gift inter vivos is deemed to be property passing on the death of the deceased by reason only that the property was not, as from the date of the disposition, retained to the entire exclusion of the deceased or a person who had an estate or interest limited to cease on the death of the deceased, and of any benefit to him by contract or otherwise, the property shall not be deemed to pass on the death of the deceased if subsequently, by means of the surrender of the benefit reserved or other- wise, it is enjoyed to the entire exclusion of the deceased or such other person as aforesaid, and of any benefit to him by contract or other- wise, for a period of three years immediately preceding the death of the deceased ;

(d.) property to which the deceased has been absolutely entitled, and which he has caused to be transferred to or vested in himself and any other person jointly, whether by disposi- tion or otherwise (including also any pur- chase or investment effected by the deceased either by himself alone, or in concert, or by arrangement with any other person), so that the beneficial interest therein or in some part thereof passes or accrues by survivorship on his death to such other person;

(e.) property passing under any past or future settlement made by the deceased by deed or any other instrument not taking effect as a will, whereby an interest in such property, or the proceeds of sale thereof, for life or any other period determinable by reference to death is reserved, either expressly or by implication, to the settlor, or whereby the settlor may have reserved to himself the right by the exercise of any power to restore to himself, or to reclaim the absolute interest in such property or the proceeds of sale thereof;

(f.) any annuity or other interest purchased or provided by the deceased either by himself alone or in concert or by arrangement with any other person, to the extent of the beneficial interest accruing or arising by survivorship or otherwise on the death of the deceased.