24
CAP. 111]
collection from others than executor: estate includes accrued income: interest payable on estate duty: date when duty shall become due: option to pay by instalments.
Estate Duty
[1983 Ed.
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 on an account setting forth the particulars of the property and delivered to the Commissioner within 6 months after the death, by the person accountable for the estate duty or within such further time as the Commissioner may allow. Such duty shall be paid on delivering the account. (Amended 47 of 1962, s. 5)
(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) In addition to any estate duty payable, interest shall accrue and be payable on such duty while it remains unpaid at the rate of 4 per cent per annum from the date of the death of the deceased until the expiration of 6 months from the death and at the rate of 8 per cent per annum thereafter: (Replaced, 47 of 1962, s. 5)
Provided that unless the Commissioner in any particular case with the approval of the Governor in Council otherwise directs-
(a) in the case of any death occurring on or before 7 December 1941, no interest under this subsection shall be payable in respect of the period from 8 December 1941 to 2 March 1946 and no part of the said period shall be taken into consideration for the purpose of computation of the period of 6 months referred to in this subsection, and
(b) in the case of any death occurring subsequent to 7 December 1941 and prior to 2 March 1946, the latter date shall be substituted for the date of death for the purposes of this subsection. (Added, 24 of 1950, Schedule. Amended, 47 of 1962, s. 5)
(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 6 months from the death, whichever first happens.
(8) A rateable part of the estate duty on an estate in proportion to the value of any leasehold property held solely by the deceased may at the option of the person delivering the account be paid by 8 equal yearly instalments, or 16 half-yearly instalments, and the first instalment shall be due at the expiration of 6 months from the death, and the interest on the unpaid portion of the duty shall be added to each instalment and paid accordingly; but the duty for the time being unpaid, with such interest to the date of payment, may be paid at any time, and in case the property is sold shall be paid on completion of the sale, and if not so paid shall be duty in arrear. (Added, 1 of 1959, s. 14. Amended, 47 of 1962, s. 5)
(Amended, 47 of 1962, s. 5)
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Page 26
24
CAP. 111]
collection from
others than
executor:
estate includes accrued income:
interest payable on estate duty:
date when duty shall become due:
option to pay by instalments.
Estate Duty
[1983 Ed.
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 on an account setting forth the particulars of the property and delivered to the Commissioner within 6 months after the death, by the person accountable for the estate duty or within such further time as the Commissioner may allow. Such duty shall be paid on delivering the account. (Amended 47 of 1962, s. 5}
(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) In addition to any estate duty payable, interest shall accrue and be payable on such duty while it remains unpaid at the rate of 4 per cent per annum from the date of the death of the deceased until the expiration of 6 months from the death and at the rate of 8 per cent per annum thereafter: (Replaced, 47 of 1962, s. 5)
Provided that unless the Commissioner in any particular case with the approval of the Governor in Council otherwise directs-
(a) in the case of any death occurring on or before 7 December 1941, no interest under this subsection shall be payable in respect of the period from 8 December 1941 to 2 March 1946 and no part of the said period shall be taken into consideration for the purpose of computation of the period of 6 months referred to in this subsection, and
(b) in the case of any death occurring subsequent to 7 Decem- ber 1941 and prior to 2 March 1946, the latter date shall be substituted for the date of death for the purposes of this subsection. { Added, 24 of 1950, Schedule. Amended, 47 of 1962, s. 5)
(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 6 months from the death, whichever first happens.
(8) A rateable part of the estate duty on an estate in propor- tion to the value of any leasehold property held solely by the deceased may at the option of the person delivering the account be paid by 8 equal yearly instalments, or 16 half-yearly instalments, and the first instalment shall be due at the expiration of 6 months from the death, and the interest on the unpaid portion of the duty shall be added to each instalment and paid accordingly; but the duty for the time being unpaid, with such interest to the date of payment, may be paid at any time, and in case the property is sold shall be paid on completion of the sale, and if not so paid shall be duty in arrear. (Added, 1 of 1959, s. 14. Amended, 47 of 1962, s. 5)
( Amended, 47 of 1962, s. 5)
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