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Wednesday, 16 December 1914

Senator PEARCE (Western Australia) (Minister of Defence) . - I assume that the honorable senator has no doubt that money advanced on mortgage is a debt. If he looks at clause 17, he will find that it provides that, for the purpose of assessing the value for duty of an estate, all debts due and owing by the deceased at the time of his death shall be deducted from the gross value. I am given to understand that there is no doubt that a mortgage is a debt or a security for a debt.

Clause agreed to.

Clause 35 -

Subject to any different disposition made by a testator in his will, the duty payable in respect of an estate, exclusive of so much of the estate as is devised or bequeathed, or' passes by gift inter vivos, or settlement for religious, scientific, charitable, or public educational purposes, shall beapportioned among the persons beneficially entitled to the estate in the following manner: -

(a)   The duty shall, in the first instance, he apportioned among all the beneficiaries in proportion to the value of their interests; and

(   b ) where there are any beneficiaries under the will, each of whom takes only specific bequests or devises of a value not exceeding £200, the duty which under paragraph (a) of this section wouldbe payable in respect of the interests of those' beneficiaries shall be apportioned among all the beneficiaries in proportion to the value of their interests.

Amendment (by Senator Pearce) agreed to -

That after the word " apportioned," line 7, the words " by the administrator," be inserted.

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