ESTATE DUTY ASSESSMENT.
No.
34 of 1922.
An
Act to amend the Estate Duty Assessment Act 1914–1916.
[Assented
to 18th October, 1922.]
BE it enacted by the King’s Most
Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth
of Australia, as follows:—
Short
title and citation.
1.—(1.) This Act may be
cited as the Estate Duty Assessment Act 1922.
(2.) The Estate
Duty Assessment Act 1914–1916 is in this Act referred to as the Principal
Act.
(3.) The Principal
Act, as amended by this Act, may be cited as the Estate Duty Assessment Act 1914–1922.
Assessable
value for residents.
2. Section seventeen of the Principal Act is amended by
inserting after the word “death” (first occurring) the words “and Federal and
State Land and Income Taxes which become due and payable after his death and
within one year after the payment of duty on any assessment under this Act,”.
Assessable
value for absentees.
3. Section eighteen of the Principal Act is amended by
inserting at the end thereof the words “and Federal and State Land and Income
Taxes due and payable at the time of his death or which become due and payable
after his death and within one year after the payment of duty on any assessment
under this Act.”.
Remission
of penalty duty.
4.—(1.) Section thirty-one of the Principal Act is amended by adding at
the end thereof the following proviso:—
“Provided
that the Commissioner may, in any particular case, for reasons which in his
discretion he thinks sufficient, remit the additional duty imposed by way of
penalty or any part thereof.”.
(2.) This
section shall be deemed to have commenced on the first day of July, One
thousand nine hundred and twenty-one.