SUCCESSION
Farmers Agree On New Policy (Hew Zealand Prest Association) WELLINGTON, July 17. Tire replacement of death duties with succession duties is the new policy of Federated Farmers. It was decided on today after a long discussion at the annual conference. ■ The conference resolved - - that “as it is the living who pay taxes . . . the term ‘death duties’ should be discontinued.” Succession duties only should be levied and not estate duties, the conference held. “And so, at the present time, succession duties should start when the value of the property inherited (by one person) is more than £30,000,” stated the resolution. The Dominion president (Mr S. D. Reeves) said the resolution meant that if a person inherited £35,000 he would pay succession duty on £5OOO. If an estate of £60,000 was split between two beneficiaries then neither would pay succession duty. Federated Farmers will present the case to the Government through a special committee comprising federation leaders, which will also talk to National Party politicians. The conference earlier withdrew a motion “that death duties be abolished,” and also referred to its Dominion council 16 other motions on death duties.
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Bibliographic details
Press, Volume XCVIII, Issue 28950, 18 July 1959, Page 14
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188SUCCESSION Press, Volume XCVIII, Issue 28950, 18 July 1959, Page 14
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