HIGHER DEATH DUTIES.
NEW SOUTH WALES BILL. SHARP INCREASES PROPOSED. A sharp increase in death duties is provided in the Stamp Duties Amendment Bill introduced in the New South Wales Parliament by Mr. Lang. The new duties range from 2 per cent, on estates of up to £IOOO to 25 per cenl. on estates of £IOO,OOO or over. The present duties are 2 per cent, on estates of from £IOOO to £SOOO. and 20 per cent, on estates of over £150,000. Throughout the new schedule, the graduated rates aro considerably varied. Id the old schedule the duty was 5 per cent, on estates valued at from £IO,OOO to C 12,000 In the new schedule the rates are:— Estates of from £IO.OOO to £II,OOO. 4| per cent.; £II,OOO to £I2,(XX), 4J per cent.: and £12,000 to £13,000, 5 per cent. The rate of £IO,OOO is reached, under the new schedule, at £32,000. Under the present schedule it operates on estates of from £45.000 to £50,000. The present rato on -111 estate exceeding £IOO,OOO, but not exceeding £105,000, in 15j per cent.
The new measure also places the same stamp duty on e deed of gift as on a 'will.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20842, 8 April 1931, Page 5
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198HIGHER DEATH DUTIES. New Zealand Herald, Volume LXVIII, Issue 20842, 8 April 1931, Page 5
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