DEATH DUTIES CASE.

Star (Christchurch), Issue 10736, 7 April 1913, Page 1

DEATH DUTIES CASE.

THE ESTATE OF THE LATE EDWARD RIDDIFORD. ACTION IN THE COURT OF APPEAL. [Per Pbess Association.] , WELLINGTON, April 4. The Full. Court sat this morning to hear argument in ' the special case of Riddiford and others v. the Commissioner of Stamps. The case was stated by the Commissioner under section 60 of the Death Duties Act, 1909, and the facts disclosed were as follows:—Edward Joshua Riddiford, executed a de.ed of partnership with his four sons on June 6, 1907, and his-death occurred on May 2, 1911. The capital of the partnership consisted of certain lands owned by him with the live stock depasturing on the lands. The deed provided for a partnership of "twenty years unless dissolved before that term by mutual consent or by the death of Edward Riddiford, and that the shares of the partners in the income and capital, and the respective rights on the dissolution of partnership should be set out in separate agreement, which was done. On the dissolution of the partnership a sum of money was to be paid as the share of Edward Riddiford, and the lands, stock and chattels were to be divided amongst other partners. This later document was.assessed for gift duty at £12,238 12s 7d, which was duly paid. On the death of Mr Riddiford the Commissioner in assessing the estate for death duty included in the dutiable estate the whole of the land and other property which was included in the deed of partnership, and assessed it for estate duty. He further assessed the estate for succession duty. From the total amount of these duties was deducted the gift duty. The value of the land at the date of the deed of partnership wa* £202,552, and the value at the death of deceased was £256.363; the value of the live stock at the date of the deed was £72,220.. Appellants, as executors of the will, contend that no estate or succession duty is payable, or in the alternative '■hat the estate duty only is payable nn the value of property at date of death. The questions for the Court are:—(l) Whether estate duty is payable in respect of property in the deed of partnership; (2) whether such duty, if payable, should be assessed on the value of the property at the date of the deed or the value at the death of Riddiford ; (3) whether succession duty is oayable in respect of property included in deed; (4) whether such succession duty, if payable, should be assessed on the value of tho property at the date of deed, or on its value at the date of decease. Mr Skerrett, K.C., and Mr Mver* appeared for appellants, and the Attor-ney-General and another for ' respondents. Legal argument, which is of a highly technical nature and which turns mainly on the provisions of the Death Duties Act, 1909, and on documents relating to partnership, was not completed when the Court adjourned.