ACCOUNTANT STUDENTS' SOCIETY.
On Monday night Mr J. Morrison, Assistant Commissioner of Stamps, gave an address on the subject of death duties to members of the Christchurch Accountant Students* Society. Mr Morrison pointed out the fairness of taxing wealth when it wa» passing from one individual to another, as it provided a means of revenue to the country without in any way inflicting hardship. Prior to the New Zealand Death Duties Act of 1909 and its amendments the revenue derived from this source was only about £750,000, but since this Act came into force its wiSer scope had raised this sum to over £3.000,000. The lecturer explained that estate duty was based ; on the estate passing from the testator, or intestity, whilst the succession dirty was based on the sum passing to the beneficiary. He also pointed out that gifts _ made within three years of death were subject to death duty, the date of registration of the deed of gift being taken for this purpose, not the date of signing. Taxation was levied on property situated in the State or on personal property owned by a person domiciled in the State. Taxation already made on property situated outside New Zealand was refunded by arrangement with the controlling body in charge, thereby avoiding double taxation. He went very fully into the Death Duties Act, explaining its points and objects, and made a passing reference to the wonderful ability of Sir John Snlmond as a law drafter. A vote of thanks to the lecturer closed the meeting.
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Press, Volume LXV, Issue 19691, 7 August 1929, Page 3
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255ACCOUNTANT STUDENTS' SOCIETY. Press, Volume LXV, Issue 19691, 7 August 1929, Page 3
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