Succession and Probate Duties Acts Amendment Act of 1920 (10 Geo v No. 29) (Qld)

9332 .SUCCESSION. Succession, &:c., Duties Acts Amendment. 10 GEO. V. No. 29, which a married woman dies intestate after the passing of tbis Act between her husband and her children or her next-of-kin in the like manner and proportions in which the real and personal estate as to which a married man dies intestate is distributable between his widow and his children or next-of-kin; and so that where a married woman. dies intesta.te after the passing of this Act leaving a husband but no issue and no mother who is a widow surviving her such husband shall be entitled to and shall receive the like benefits as would be received by a widow under the provisions of *" The Succession Act Amendment Act of 1895" upon the death of her husband in similar circumstances.', (2.) t" The Succession Act of 1906" shall be con- strued as if the amendment of the said section hereby made had been inserted therein at the date of the passing of the said Act: Provided that nothing herein contained shall of itself invaJidate or disturb the distribution of the intestate estate of any deceased married woman made or partly made before the pasfJing of this Act upon the assumption that the husband of such married woman was not entitled to any of the benefits which by *" T,he Succession Act Amendment Act of 1895" are conferred upon the widow of a married man dying intestate. 10 Geo. V• An Act to Amend "The Succession and Probate . No. ~9. THE Duties Acts, 1892 to 1918," in certain SUCCESSION AND PROBATE particulars. DUTIES ACTS [ASSENTED TO 8TH MARCH, 1920.] BE AMENDMENT ACT OF 1920, it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- lative Council and Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows : - Short title 1. This Act may be cited· as "The Succession and : ~ ~ struction Probate Duties Acts Amendment Act of 1920," and- shall of Act. * 59 Vic. No. 10, supra, page 3371. t 6 Edw. VII. No. 24, 8upra, page 3372..

SUCCESSION. 9333 1920. S1lccession, &c., D1lties Acts Amendment. be read as one with *" The Succession and Probate Duties Acts, 1892 to 1918." "The Succession and l(robate DutiesAct, 1892," is herein referred to as the Prmcipal Act. 2. In proviso (d) of subsection fOltlr of section AmendJ?ent i twelve of the Principal Act as amended by section seven ~ 561 lO• 12 of t" The Succession and Probate Duties Act Amendment ~c~ i; e£ . IIr Act of 1918," before the word" successiop." the words "probate or administration or" are inserted. , 3. The following provision is added to paragraph (ii.) Amendment of section fifty-six of the Principal Act:- of s. 56. "The accounts, returns, or valuations t~ be furnished by any company carrying on business in Qltleensland and the time and mode of furnishing the same." 4. The following provision is added to section fifty- Amendment seven of the Principal Act:- of s. 57. "Where the name of the Commissioner is printed or stamped the same shall in all cases be a sufficient signa- ture; and any notice, demand, assessment, certificate, letter, circular, or other writing or document bearing or purporting to bear his name or signature thereto, whether in writing, printing, or stamping, shall be d~ emed to have been duly signed by him, and judicial notice shall be taken thereof as his signature accordingly." 5. In section fifty-eight of the Principal Act. as Amendment enacted by section eighteen of t" The Succersion and Pro- of s. 58. bate Duties Acts Amendment Act of 1918," ~ fter the word "accounts' where it thrice occurs the words "returns or valuations' are inserted. 6. Af r section two of t" The Succession and Probate Duties Act 1892 Amendment Act of 18951" the follow- ing sectio is inserted, and the said seftion shall be deemed toEave been so inserted on the first day of October, 0 e thousand nine hundred and seventeen, and to th t extent this Act shall have: retrospective ~rn~ : . ~ - _ [2A.] (1.) If any person being the re . tered holder Duty f;:a;::;:;: of any shares in a company incorporated i Queensland of under any Act relating to companies (herein called shares in . Queensland * 56 Vic. No. 13 and amending Acts, 8upra, page 8989 t 9 Geo. V. No. 16, supra, page 8566. :j: 59 Vic. No. 28, supra, page 9029. companies transferred to foreign companies.

9334 SUCCESSION. Succession, &c., Duties Acts Amendment. 10 GEO. V. No. 29, a "Queensland company"), whether such person is so registered on the principal register or on any branch register of the company and whether he has his domicile in Queensland or elsewhere- (a) Has transferred within two years prior to his death the whole or any part of such shares to any company incorporated according to the laws of some country, possession, or place otherthan Queensland (herein called a "foreign company"); and (b) At his death such person was'the holder of any shares in the foreign company; then duty shall be chargeable in accordance with the provisions of this section and paid by the Queensland company. (2.) The Queensland company, within three months after the first day of ..Tanuary, one thousand nine hundred and twenty, or such further time as the Commissioner may allow, shall cause to be delivered to the Commis- sioner a return stating- The name a~ d address of the deceased person; The date of his death; The number, description, and value of the shares in the Queensland company so transferred as aforesaid by such person to the foreign company; The value of the shares in the Queensland com- pany held by the foreign company. at the death of the deceased person; The number and description of the total shares issued or created by the foreign company; and .The number and description of the shares held by the deceased person at his death in the foreign company. If any such return as aforesaid is not delivered in accordance with this subsect:on, the Queensland company making default shall be liable to a penalty not exceeding one thousand pounds and to a daily penalty not exceeding fifty pounds for every day during which such default continues.

SUCCESSION. 1920. 81{CCession, &c., Duties Acts Amendment. (3.) The duty under this section shall be paid by the Queensland company at the rate mentioned in the table hereunder set out on the total value of the'shares in the Queensland company transferred by the deceased person to the foreign company within two years prior to his death; and the amount in money on which such duty is payable shall bear the same proportion to the value of the shares in the Queen~ land company transferred by the deceased person as aforesaid as the number of the shares held by the deceased person in the foreign company at the date of his death bears to the total number of shares of the foreign company ISsued or created at the date of his death. Table. Where the t0tal value of the shares in the Queensland company transferred by the deceased to the foreign company within two years prior to his death- . Does not exceed £500 2 per cent. Exceeds £500 but does not exceed £1,000 3 per cent. Exceeds £1,000 but does not exceed £2,000 4 per cent. Exceeds £2,000 but does not exceed £3,000 5 per cent. Exceeds £3,000 but does not exceed £5,000 6 per cent. Exceeds £5,000 but does not exceed £7,500 7 per cent. Exceeds £7,5{lO but. does not exceed £10000 8 per cent. Exceeds £10,000 but does not exceed £15,000 9 per cent. Exceeds £15,000, 9 per cent., together with an additional one per cent. on the total value for every £5,000 or part of £5,000 in excess of £15,000, but so t,bat such rate Rhall not exceed 15 per cent. (4.) If no such return as aforesaid is furnished, or if any return furnished is,in the opinion of the Com- missioner, incomplete or otherwise unsatisfactory, the Commiss oner may himself assess the amount of duty chargeable under this section and such assessment shall be final and conclusive, but after payment of the duty so assessed shall be subject to the appeal by this Act provided. In the event of any dispute arising between the Commissioner and any company from whom duty is claimed under this section as to the value of any shares in any company at any date, or the amount of duty chargeable under this section, the amount of such value and of such duty shall be assessed by the Commissioner, and such assessment shall be final and conclusive, but after payment of the duty so assessed shall be subject to the appeal by this Act provided. 9335 , "

9336 SUCCESSION. Succession, &c., Duties Acts Amendment. 10 GEO. V. No. 29, (5.) Duty under this section shall bear interest at the rate of five pounds per centum per annum calculated at simple interest from the date of the death of the deceased person. (6.) No transfer J')f or other dealing with any shares in the Queensland company held by the foreign company shall be peirmitted by the Queensland company, and no dividends shall be paid over.in respect thereof, after the date of the death of the deceased person, until a. certificate under the hand of the Commissioner that al1 duty under this section has been paid or that no duty is payable has been received by or produced to the Queensland company. Moreover, the Commissioner shall, to the extent of the duty payable and in respect thereof, have a lien on the assets of the Queensland company in priority to all other charges, and the Commissioner may recover from the Queensland company such duty in any court of competent jurisdiction as a debt due by the Queensland company to nis Majesty. . . (7.) Notwithstanding any Act, law, or usage, or any provisions in any memorandum or articles of association to the contrary, no contract or agreement whether entered into before or on or after the first day of October, one thousand nine hundred and seventeen, by a Queensland company or any other person shall have any effect so as in any way or to any extent whatsoever to exonerate the Queensland company from liability to pay the duty under this ~ ection, or to prevent the recovery of the duty from s~ch company by the Commissioner. (8.) Fori all the purposes of this section the term "shares" includes not only shares but also stock of every description, debenture stock, debentures, and any other interest whatsoever in the company concerned, and the term" duty" includes all interest accrued thereon. (9.) This section shall apply only where the person referred to· in subsection one hereof has died during the month of October, one thousand nine hundred and seventeen. Amendment 7. The ~ ollowing amendments are made in section * o 10 f 0 B 4 . 1A1c o t. f eleven of "I, The Succession and Probate Duties Act o 'J .f 1904" as enacted by section twenty-two of t" The Suc- * 4 Edw. VII. No. 17, 8upra, page 9032. t 9 Geo. V: No. 16, 8upra, page 8566.

SUCCESSION. 1920. Succession, &c., Duties Acts Amendment. cession and Probate Duties Acts A mendme.nt Act of 1918," and shall be deemed to have been made therein on the first day of June, one thousand nine hundred and eighteen, and to that extent this Act shall have retrospective operation:- (a) After the fourth paragraph of subseetion eleven the following provisions are inserted:- "If any such return as aforesaid is not delivered in accordance with this subsection, the compa.ny making default shall be liable to a penalty not exceeding fifty pounds, and to a daily penalty not exceeding five pounds for every day during which such default continues. "Moreover, such duty shall be deemed to be a debt due by the company to His Majesty, and shall be recoverable accordingly in any court of competent jurisdiction. "Moreover, the Commissioner may himself assess the value of the deceased's interest as aforesaid on which duty is payable and the amount of such duty, and such assessment shall be final and conclusive, but after pay- ment of the duty so assessed shall be subject to the appeal by this Act provided." (b) The proviso (ii.) to subsection seven is repealed, and the following proviso is inserted in lieu thereof : - " (ii.) vVhere a foreign company carries on any business within and without Queensland the rate of duty shall be determined in accordance with the foregoing table on the full value of the shares. or other interest of the deceased, but the amount on which duty is payable at that rate shall be on the part of such value which bears the same proportion to the said full value thereof as the assets of the company situated in Queensland bear to the total assets of the company wherever situated, but this provision shall not be deemed to deprive any company of the' benefit of any judgment obtained by it before the first day of February, one thousand nine hundred and twenty, as to the duty payable hereunder." T .9337

9338 SUCCESSION. Succession, <hc., Duties Acts Amendment. 10 GEO. V. No. 29, 1920. (c) After the said subsection seven the following subsection is inserted : - (7A.) Duty under this section shall bear interest at the rate of five pounds per centum per a.nnum calculated at simple interest from the date of the death of the deceased person. The Commissioner may remit the whole or any part of the interest in any case in which it appears to him to be proper so to do. (d) The following subsection is added to the section:- (14.) In the case of any foreign company where the Governor in Council is satisfied that the furnishing of returns by. such company under this section should be dispensed with on the ground that the duty payable on the death of a member thereof would be negligible, the Governor in Council may from time to time, by Order in Council published in the Gazette, exempt such company either from the obligation to make returns in respect of the death of any particular member, or for such time as is mentioned in the Order from the obligation to make returns upon the death of any member. Every such Order shall be laid upon the table of both Houses of Parliament within forty days after the publication thereof if Parliament is then in session, or, if not, then within forty days a.fter the commencement of the next ensuing session of Parliament. TAX, INCOME. See INCOME. TAX, LAND. See LAND. WORKERS' HOlVlES. See LABOUR• •