THE TURNBULL LIBRARY

Evening Post, Volume C, Issue 85, 7 October 1920, Page 7

THE TURNBULL LIBRARY

PAYMENT OP DEATH DUTY.

The M to Z Petitions Committee yesterday recommended to ■ the House of Representatives that the petition of the Public Trustee, as trustee of the estate of the late A. H. Tumbull, should be referred to the Government for favourable consideration. The petition prayed that death duty bo not assessed on ilie value of the Tumbull Library, which was bequeathed to the nation.

The Leader of the Opposition (Mr. Wilford) said that when the late Mr. Turnbull made his will a bequest to the State was not taxable. Before the death of the testator, the law was amended to make such a bequest taxable. The library was valued at £50,000, and the balance of the estate was £25.000. Two of the residuary legatees wera 'in good circumstances, but the others were young children,"* not so fortunately circumstanced. The duty was £9000, including £6000 payable on the library. The case could quite easily have been provided for by stating that duty should be paid Out of the bequest to the State; but apparently the alteration in the law was overlooked.

Mr. J. M'Combs considered that the death duty was a debt due to the State, r.nd it should bo paid before the balance of the estate was devised.

This view was controverted by several members, who argued that to penalise such. ,■ a magnificent bequest would discourage testators in the future. - The report was tabled.