Estate Duty Regulations (Amendment) (Cth)

 

STATUTORY RULES.

1956. No. 51.

REGULATIONS UNDER THE ESTATE DUTY ASSESSMENT ACT 1914-1953.*

I, THE GOVEENOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Estate Duty Assessment Act 1914-1953.

Dated this fifteenth day of June, 1956.

W. J. SLIM 

Governor-General.

By His Excellency’s Command,

Treasurer.

AMENDMENTS OF THE ESTATE DUTY REGULATIONS. 

1. Regulation 2 of the Estate Duty Regulations is repealed and the following regulation inserted, in its stead:—

Parts.

“2. These Regulations are divided in Parts, as follows:—

Part I.—Preliminary (Regulations 1-4).

Part II.—Returns (Regulations 5-17).

Part III.—Collection and Recovery of Estate Duty (Regulations 18-26).

Part IV.—Objections and Appeals (Regulations 27-28G).

Part V.—Miscellaneous (Regulations 29-37).”.

Exemption from furnishing returns.

2.—(1.) Regulation 5 of the Estate Duty Regulations is amended by omitting paragraphs (a) and (b)and inserting in their stead the following paragraphs:—

“(a)in the case of an estate the whole of which passes to the widow, widower, children or grandchildren of the deceased person—Five thousand pounds; or

(b) in any other case —Two thousand five hundred pounds.”.

(2.) The amendment effected by the last preceding sub-regulation applies in relation to the estates of deceased persons dying on or after the twenty-eighth day of October, 1953.

Where whole of estate distributed prior to death.

3. Regulation 6 of the Estate Duty Regulations is amended by omitting the words “twelve months” and inserting in their stead the words “three years”.

* Notified in the Commonwealth Gazette on , 1956.

  Statutory Rules 1941, No. 78, as amended by Statutory Rules 1942, No. 292.

876/54.—PRICE 5D. 9/21.5.1956.

4. Regulation 7 of the Estate Duty Regulations is repealed and the following regulation inserted in its stead:—

Prescribed matters for purpose of s. 10 of Act.

“7. For the purposes of section 10 of the Act, but subject to those Regulations—

(a) the prescribed period is—

 (i) the period of three months after the death of the person whose estate is being administered; or

(ii) where probate of the will or letters of administration are not granted within the period specified in the last preceding sub-paragraph, the period of one month after the date on which probate of the will or letters of administration are granted;

(b) the prescribed form is the form contained in the Schedule to these Regulations together with the schedules referred to in that form; and

(c)the prescribed place is—

 (i) if the estate of the deceased person is wholly situated within any one State —at the office of the Deputy Commissioner of Taxation in that State;

 (ii) if the estate of the deceased, is wholly situated within the Australian Capital Territory or partly within that Territory and partly within the State of New South Wales—at the office of the Deputy Commissioner of Taxation, Sydney;

(iii) if the estate of the deceased is wholly situated in the Northern Territory of Australia—at the office of the Deputy Commissioner of Taxation for the Northern Territory; or

(iv) subject to sub-paragraph (ii) of this paragraph, if the estate of the deceased person is situated within more than one State or Territory—at the office of the Deputy Commissioner of Taxation, Central Office, Melbourne.”.

5. Regulation 11 of the Estate Duty Regulations is repealed and the following regulation inserted in its stead:—

Copy of will and settlement to be furnished with return.

“11. The administrator shall furnish with the return—

(a)a certified copy of the will (if any) of the deceased and all codicils to the will, or a photographic copy of those documents furnished by the Registrar of Probates or other appropriate officer of the Supreme Court of a State or Territory; and

(b) a certified copy of every settlement made by the deceased, either before or after the commencement of the Act.”.

6. After regulation 11 of the Estate Duty Regulations the following regulation is inserted:—

Particulars to be furnished with returns.

“11A. The administrator shall, furnish with the return of the estate of a deceased person—

(a) a statement setting out the basis on which each asset included in the return has been valued;

(b)where the deceased person held a beneficial interest in a joint tenancy or joint ownership of real or personal property, a statement setting out—

 (i) the date of creation of the joint tenancy or joint ownership; and

(ii) the amounts contributed by each joint tenant or joint owner;

(c) where the deceased person held leasehold estate, a statement setting out—

 (i) the term of the lease;

 (ii) the rental payable under the lease;

(iii) the buildings erected on the leased land; and

(iv) the covenants contained in the lease;

(d)where the deceased person had, at the time of his death, money placed on fixed deposit, a statement setting out—

 (i) the dates and periods of deposit; and

(ii) the rates of interest; and

(e) where, under the will of the deceased person, a person receives a life tenancy or an annuity, a statement setting out the age of the life tenant or annuitant, as the case may be.”.

Order, place and time of review.

7. Regulation 28B of the Estate Duty Regulations is amended by omitting from sub-regulation (3.) all the words from and including the words “of three weeks” and inserting in their stead the words “commencing on the twenty-fifth day of December and ending on the twenty-first day of January”.

8. Regulation 28g of the Estate Duty Regulations is repealed and the following regulation inserted in its stead :—

Communications to a Board.

“28G. A communication to a Board may be addressed to the Chairman of the Board in the care of the Deputy Commissioner of Taxation in the State in which the person making the communication resides.”.

The Schedule.

9. The Schedule to the Estate Duty Regulations is repealed and the following Schedule inserted in its stead :—

THE SCHEDULE.

Regulation 7.

COMMONWEALTH OF AUSTRALIA.

Estate Duty Assessment Act 1914-1953.

Return of the Estate of	late of
Address for Service of Notices, &c.		deceased,	testate
			intestate

 

I,  of   in the State of  do solemnly and sincerely declare :—

1. That I am the person liable under the Estate Duty Assessment Act 1914-1953 to make a return of the Estate of the above-mentioned deceased and to pay the duty thereon under that Act.

2. That the deceased died on the				day of ,
19 , at			and was aged	years
months.	He	was at the time of death			(here insert marital status)
	She
and had during life followed the occupation of					.

3. That the statement of assets and liabilities act out in this return and the accompanying Schedules

Nos. to (inclusive) contain a true statement of all the items comprising the estate, both real and personal, of or to which the above mentioned deceased was at the time of death possessed or entitled, or which is deemed to be part of his estate in accordance with the provisions of the Act.

4. That the value of each item set out in the return and schedules is the true and full value of the item in respect of which the value is specified.

5. That the liabilities stated in the return and schedules are justly due by the estate.

6. That the deceased did not within three years immediately preceding death make any gift inter vivos (not including any gift of property the value of which together with the value of the property comprised in any other gifts made to the same person within three years before his decease did not exceed Fifty pounds), sales to relatives by blood, marriage or adoption, or settlement of any estate, real

or personal, save and except	that	described and valued in Schedule No. .
	those

7. That the deceased had not an interest of any kind for his life in property comprised in a settlement (not being a settlement made by the deceased) being an interest he surrendered to any other

person within three years before his decease, save and except	that	described and valued in
	those

Schedule No. .

8. That the deceased had not during his lifetime made any settlement under which he had any interest of any kind for his life, whether or not that interest had been surrendered by him before his decease unless it was surrendered more than three years before his death, save and except

that	described and valued in Schedule No.
those

9. That the deceased had not immediately prior to his death any beneficial interest either as joint

tenant or joint owner with other persons in any real or personal property save and except	that
	those

described and valued in Schedule No. .

10. That the deceased had not at the time of his death a beneficial interest in property, being a beneficial interest which, by virtue of a settlement or agreement made by him passed or accrued on or

after his death to, or devolved on or after his death upon, any other person, save and except	that
	those

described and valued in Schedule No. .

11. That, save and except in respect of	the policy	described and valued in Schedule No.
	those policies

premiums have not been paid wholly or in part by or on behalf of the deceased in respect of any policy of insurance on the life of the deceased in favour of deceased’s widow, widower, children, grand-children, parents, brothers, sisters, nephews or nieces.

12. That the deceased was at the time of his death domiciled in

13. That the estate of the deceased is situated in

14. That the persons and institutions whose names are specified in this return under the heading “Beneficiaries in the Estate” are the persons and institutions beneficially entitled.

I undertake, in the event of any additional assets, or any excess in any amount claimed as an allowable deduction, being discovered which would render further duty payable, to advise the Commissioner of Taxation, and to pay any further duty found to be payable by me.

And I make this solemn declaration by virtue of the Statutory Declarations Act 1911-1950, conscientiously believing the statements therein to be true in every particular.

Declared at

in the State of

this	day of	, 19 .
(Signature).

Before me

(Title of person before

whom declaration is made).

STATEMENT OF ASSETS.

Item.	Particulars of Assets.			Value.
£	s.	d.
1	(1) REAL ESTATE as per Schedule No........................................................................................
(2) Beneficial interest in a joint tenancy or joint ownership of real estate held by the deceased immediately prior to death, as per Schedule No.
Total.....................................................................................
2	PERSONAL ESTATE comprising—
(1) Leasehold estate as per Schedule No.................................................................................
(2) Rents due or accrued at date of death, as per Schedule No............................................
(3) Life Insurance Policies and Bonuses, as per Schedule No.............................................
(4) Money in hand or house.......................................................................................................
(5) Money in Bank—Savings account including accrued interest......................................
—Current account including accrued interest................................
—Fixed deposit including accrued interest....................................
(6) Mortgages—Principal..............................	as per Schedule No.
Accrued interest
(7) Debentures of all kinds, Treasury Bills, and other similar securities, and accrued interest, as per Schedule No................................................................................................................
(8) Debts due to the estate, as per Schedale No......................................................................
(9) Shares in Companies...............................................		as per Schedule No.
Dividends uncollected at date of death
(10) Furniture and household effects, as per Schedule No...................................................
(11) Watches, Trinkets, Jewellery, Clothing, and similar items, as per Schedule No.....
(12) Motor Cars, Carriages, Harness and Saddlery, as per Schedule No.
(13) Crops, as per Schedule No.................................................................................................
(14) Number and Value of Bushels in Wheat Certificates held by deceased for each Pool, as per Schedule No.....................................................................................................................
(15) Live Stock, as per Schedule No........................................................................................
(16) Farming implements, as per Schedule No.......................................................................
(17) Plant, and similar items, as per Schedule No.................................................................
(18) Tools, as per Schedule No.................................................................................................
(19) Stock in shop or business, as per Schedule No..............................................................
(20) Goodwill of trade or business, as per Schedule No.......................................................
(21) Interest in a deceased person’s estate, as per Schedule No..........................................
(22) Interest in a partnership, as per Schedule No.................................................................
(23) Beneficial interest in a joint tenancy or joint ownership of personal estate held by deceased immediately prior to death, as per Schedule No..............................................................
(24) Property over which deceased had a general power of appointment which was exercised by his Will, as per Schedule No..........................................................................................
(25) Personal property outside Australia, as per Schedule No.............................................
(26) Total value of interests set out in Schedules Nos. to (inclusive) being the Schedules referred to in paragraphs 6, 7, 8, 10 and 11 of this declaration
(27) Other personal property not coming under any of the above items, as per Schedule No...................................................................................................................................................
Total.....................................................................................

STATEMENT OF LIABILITIES.

Item.	Particulars of Liabilities.	Value.
£	s.	d.
1	Secured Debts—
(1) Mortgages as per Schedule No............................................................................................
(2) Other secured debts as per Schedule No............................................................................
2	Unsecured Debts as per Schedule No.............................................................................................
3	Probate and Succession Duties payable on the estate.................................................................
4	Other Lawful Deductions or Charges as per Schedule No..........................................................
Total.....................................................................................

BENEFICIAIRES IN ΤΠΕ ESTATE.

Name. Address. Relation to Deceased. Nature of Interest. Manner in which Interest is Derived. Value of Interest.

By Authority: A. J. ARTHUR, Commonwealth Government Printer, Canberra.