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Wednesday, 26 November 1941

Mr LAZZARINI (Werriwa) (Minister assisting the Treasurer) . - I move -

That the words "as a gift inter vivos" be omitted.

This clause provides for a rebate of gift duty where the gift also becomes liable to estate duty by reason of the section in theEstate Duty Assessment Act which provides for the inclusion in the estate of a deceased person of all gifts inter vivos made within the twelve months preceding the death of the deceased. However, property which has been the subject of gift duty may be included in the estate of a deceased person for other reasons than that it has been also the subject of a gift inter vivos. The amendment will ensure that the rebate shall be granted in such cases as well as in those cases in which the property was the subject of a gift intervivos. The amount of the rebate will equal the amount of the gift duty or the amount of the estate duty attributable to the property comprised in the gift, whichever is the lesser.

Amendment agreed to.

Clause, as amended, agreed to.

Clause 16 (No deduction from gift in respect of benefit to donor).

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