Succession and Probate Duties Act Amendment Act 1972 (Qld)

194 ANNO VICESIMO PRIMO ELIZABETHAE SECUNDAE REGINAE No. 23 of 1972 An Act to amend the Succession and Probate Duties Act 1892-1971 in Certain particulars [ASSENTED TO 19TH DECEMBER, 1972] BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland- in Parliament assembled, and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Succession and Probate Duties Act Amendment Act 1972. (2) The Succession and Probate Duties Act 1892-1971 is in this Act referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Succession and Probate Duties Act 1892-1972.

Succession and Probate Duties Act Amendment Act 1972, No. 23 195 2. Amendment of s. 10H . amended by- (a) in subsection (3), Section 10H of the Principal Act is (i) in paragraph (a), (A) omitting the words " two thousand five hundred dollars " and inserting in their stead the expression " $3,500 "; (B) omitting the words " six hundred dollars " where they occur and inserting in their stead in each case the expression " $800 "; (ii) in paragraph (b), (C) omitting the words " six hundred dollars " and inserting in their stead the expression " $800 "; (D) omitting the words " nine hundred dollars " and inserting in their stead the expression " $1,200 "; (iii) in paragraph (c) omitting the words " nine hundred dollars " and inserting in their stead the expression " $1,200 "; (iv) in paragraph (d), omitting the words " nine hundred dollars " and inserting in their stead the expression " $1,200 "; (b) inserting after subsection (7) the following subsection:- " (8) Where moneys become payable under a bona fide superannuation scheme upon the death of a predecessor and are paid to his legal personal representative, a succession from the predecessor shall be deemed to be, for the purposes of this section so far as it consists of money, a succession to a benefit that is payable under that superannuation scheme save where the moneys so paid have been exhausted as prescribed by the next following paragraph. Where moneys referred to in the last preceding paragraph are received by a legal personal representative of a predecessor under a bona fide superannuation scheme, it shall be deemed that the legal personal representative has resorted to those moneys (in the case of each monetary succession from a predecessor who was domiciled in Queensland at the time of his death up to the maximum amount of exemption to which the successor in question is entitled under this section) firstly in payment of a monetary succession to the successor entitled to a monetary succession whose succession from the predecessor would, apart from the exemption prescribed by subsection (3) as extended by this subsection, attract the lowest rate of succession duty, secondly in payment of a monetary succession to the successor entitled to a monetary succession whose succession from the predecessor would, apart from the exemption aforesaid, attract the next lowest rate of succession duty and so on until the amount of those moneys has been exhausted. In calculating the amount of those moneys deemed to have been resorted to in the payment of a monetary succession to any successor from the predecessor there shall be deducted from the maximum exemption prescribed in relation to that successor by subsection (3) the value of any benefit to which that successor is in fact directly entitled under any superannuation scheme upon the death of the predecessor and in the case of a succession by a

196 Succession and Probate Duties Act Amendment Act 1972, No. 23 child of the predecessor, any amount that has been included in respect of that child in the amount of moneys deemed to have been resorted to in the payment of a monetary succession to any successor who is a spouse of the predecessor. In this subsection the term " money " does not include any part of the estate of a predecessor- (a) that becomes money in the hands of the legal personal representative of the predecessor by way of a conversion by him of that part of the estate; or (b) that is deemed to be money by reason of a notional conversion of that part of the estate, and the term " monetary succession " does not include a succession to any part of the estate of the predecessor that by virtue of this paragraph is not included in the term " money "."; (c) renumbering subsection (8) as subsection (9). 3. Amendment of s. .12 . Section 12 of the Principal Act is amended by- (a) in provision (2), inserting after the words " exempt from duty " where they occur in the second proviso the words " or in respect of which any deduction is made "; (b) in provision (2A), in paragraph (a), inserting after the word "Act " the words " or under those subsections as extended by subsection (8) of section 10H of this Act "; (c) in provision (5), (i) in paragraph (a), (A) omitting the words " fifteen thousand dollars " where they occur and inserting in their stead in each case the expression " $20,000 "; (B) omitting the words " five thousand dollars " where they occur and inserting in their stead in each case the expression " $5,000 "; (ii) omitting paragraphs (b) and (c) and inserting in their stead the following paragraphs:- (b) where the total value of the estate of the deceased, in and out of Queensland, exceeds the applicable amount ascertained, as the case requires, in accordance with subparagraph (i), (ii) or (iii) of paragraph (a) of this provision (5) and prescribed by that paragraph as the maximum amount by reference to which the payment of succession duty and of a proportion of probate or administration duty is regulated, (in this paragraph (b) referred to as the " applicable amount ") but does not exceed- (i) where the applicable amount is properly ascertained under subparagraph (i) of paragraph (a) of this provision (5), the sum of the amount of $100,000 and the amount of $5,000 for each such dependent child; (ii) where the applicable amount is properly ascertained under subparagraph (ii) of paragraph (a) of this provision (5), the sum of the amount of $100,000 and the amount of $5,000 for each such dependent child in excess of one;

Succession and Probate Duties Act Amendment Act 1972, No. 23 197 (iii) where the applicable amount is properly ascertained under subparagraph (iii) of paragraph (a) of this provision (5), the amount of $100,000, there shall be deducted from the value of the succession.coming to that wife or husband or child under the age of twenty-one years, an amount calculated on the formula- where- 80,000 + A - B 80,000 x`, A is the applicable amount; and B is the total value of the estate of the deceased; (c) where there is more than one succession in an estate to which paragraph (b) of this provision (5) applies only one amount shall be calculated as the deduction to be made in accordance with that paragraph and a proportionate part of that amount shall be deducted from the value of each succession according to the value of the succession; "; (d) in provision (6), (i) omitting the expression " section l lB " and inserting in its stead the-expression " sections 1OH and 11B "; (ii) omitting the word " and " where it occurs between subparagraphs (a)'and (b) of the final paragraph; (iii) adding to the final paragraph the following subparagraphs:- { I I (c) a step-child of the predecessor; and (d) a person who lived with the predecessor and to whom the predecessor stood in loco parentis and in respect of whom the Commissioner is satisfied that the circumstances of the case are such that that person should be treated as an adopted child of the predecessor.". 4. Amendment of Schedule . The Schedule to the Principal Act is amended by adding to the note appearing therein the following paragraph :- " For the purposes of- (a) establishing liability to the payment of probate or administration duty in respect of the estate of the predecessor; and (b) calculating the amount of that duty, there shall be deducted from the net value of the property of the deceased person- (c) an amount equal to the deduction from the value of a succession required by paragraph (b) (or where there is more than one succession by paragraphs (b) and (c)) of provision (5) of section 12; (d) an amount equal to the aggregate amount exempted from the payment of succession duty by reason of the operation of subsection (8) of section 10x.".

198 Succession and Probate Duties Act Amendment Act 1972, No. 23 5. Retrospective operation of certain provisions . The provisions inserted by section 2 of this Act in the Principal Act as subsection (8) of section 10H of the Principal Act shall be applied in respect of the estate of every predecessor who has died on or since the second day of December 1969 wherever those provisions would have been material had they then been enacted, and the deduction required by provision (d) of the note in the Schedule to the Principal Act (as inserted by section 4 of this Act) to be made shall be made from the net value of every estate to which the provisions of subsection (8) of section IOH are applied.