2334
Collection from others
No. 16 of 1915.
ESTATE DUTY.
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.
(4) Estate duty so far as not paid by the executor shall be paid by stamps affixed to an account setting forth the particulars of the property and delivered to the Commissioner within six months after the death, by the person accountable for the estate duty; or within such further time as the Commissioner may allow.
Estate includes accrued income.
Interest payable on estate duty.
Date when duty shall become due.
Allowance for debts and funeral expenses.
(5) Every estate shall include all income accrued upon the property included therein down to and outstanding at the date of the death of the deceased.
(6) Interest at the rate of four per cent. per annum on the estate duty shall be paid from the date of the death up to the date of the delivery of the affidavit or account, or the expiration of six months after the death, whichever first happens, and shall form part of the estate duty, and subject as aforesaid interest at the rate of eight 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 an affidavit for the Commissioner or on an account, shall be due 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 purpose of estate duty, allowance shall be made for reasonable funeral expenses incurred in the Colony not exceeding one thousand dollars or two and a half per cent. of the ascertained value of the estate, whichever is the smaller, and for debts and incumbrances, but an allowance shall not be made—
57 & 58 Vict. c. 30, s. 7 (1).
(a) for debts incurred by the deceased, or incumbrances created by a disposition made by the deceased, unless such debts or incumbrances were incurred or created bonâ fide for full consideration in money or money's worth wholly for the deceased's own use and benefit and take effect out of his interest; nor
* As amended by No. 22 of 1921.
2334
Collection from others
No. 16 of 1915.
ESTATE DUTY.
exists, but that he does not know the amount or value there- of 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.
(4) Estate duty so far as not paid by the executor shall be than executor. paid by stamps affixed to an account setting forth the particulars of the property and delivered to the Commis- sioner within six months after the death, by the person accountable for the estate duty; or within such further time. as the Commissioner may allow.
Estate includes accrued income.
Interest payable on estate duty.
Date when duty shall become due.
Allowance for debts and funeral expenses.
*
(5) Every estate shall include all income accrued upon the property included therein down to and outstanding at the date of the death of the deceased.
(6) Interest at the rate of four per cent. per annum on the estate duty shall be paid from the date of the death up to the date of the delivery of the affidavit or account, or the expiration of six months after the death, whichever first happens, and shall form part of the estate duty, and subject as aforesaid interest at the rate of eight 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 an affidavit for the Commissioner or on an account, shall be due 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 purpose of estate duty, allowance shall be made for reason- able funeral expenses incurred in the Colony not exceeding one thousand dollars or two and a half per cent. of the 57 & 58 Vict. ascertained value of the estate, whichever is the smaller, and for debts and incumbrances, but an allowance shall not be made--
c. 30, s. 7 (1).
(a) for debts incurred by the deceased, or incumbrances created by a disposition made by the deceased, unless such debts or incumbrances were incurred or created bonâ fide for full consideration in money or money's worth wholly for the deceased's own use and benefit and take effect out of his interest; nor
* As amended by No. 22 of 1921.
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