Gift
Duty Assessment
No. 97 of 1972
An
Act relating to the Assessment of Duties on Gifts.
[Assented to 24 October 1972]
BE it
enacted by the Queen’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 Gift Duty Assessment Act 1972.
(2.) The Gift
Duty Assessment Act 1941–1967 is in this Act referred to as the Principal
Act.
(3.) The Principal Act, as amended by this Act, may
be cited as the Gift Duty Assessment Act 1941–1972.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Returns
by donor.
3.Section 19 of the Principal Act is amended by omitting
from sub-section (1.) the words “Three thousand” and inserting in their stead
the words “Seven thousand five hundred”.
Application
of amendment.
4.The amendment of sub-section (1.) of section 19 of the
Principal Act made by this Act applies only where the gift first mentioned in
that section is made on or after the sixteenth day of August, One thousand nine
hundred and seventy-two.
*
Act No. 52, 1941, as amended by No. 17, 1942; No. 14, 1947; No. 80, 1950; No.
1, 1953; No. 57, 1957; No. 73, 1963; No. 93, 1966; and No. 41, 1967.