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Friday, 21 September 1928


Mr LATHAM (Kooyong) (AttorneyGeneral) (7:56 AM) . - I move -

That the Senate's amendment be agreed to.

Clause 5 of the bill, as introduced into this chamber, provided for inclusion in the property of deceased persons, for the purposes of the assessment of estate duty, property held in joint tenancy. There was a certain amount of discussion on that provision in the House, and it was the generally expressed view of honorable members that the tax should be assessed only upon such interests as were held by the deceased person at the time of his death. The amendment which was prepared, somewhat hurriedly, to meet that view was founded on the Victorian Act and in that form was adopted. The provision has been greatly simplified and clarified by the Senate's amendment so that it reads that the term "property" shall include inter alia the " beneficial interest held by the deceased person immediately prior to his death in a joint tenancy or joint ownership with other persons." The words "joint ownership" are introduced to make it clear that the provision refers to personal property as well as to real estate and the effect of the amendment in this simple form is that the intention of the House is fully met, in that when a person who is a joint tenant of realty or joint owner of personalty dies the beneficial interest which he held prior to his death and which by survivorship passed to another person will be for the purposes of the act a portion of his estate.

Motion agreed to.

Resolution reported; report adopted.







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