Estate and Gift Duties Amendment Act 1981
Estate and Gift Duties Amendment Act 1981
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Estate and Gift Duties Amendment Act 1981
Estate and Gift Duties Amendment Act 1981
Public Act |
1981 No 19 |
|
Date of assent |
3 September 1981 |
|
Contents
An Act to amend the Estate and Gift Duties Act 1968
BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:
1 Short Title, commencement, etc.
(1)
This Act may be cited as the Estate and Gift Duties Amendment Act 1981, and shall be read together with and deemed part of the Estate and Gift Duties Act 1968 (hereinafter referred to as the principal Act).
(2)
This Act shall come into force on the 1st day of April 1982, and shall apply to the estates of all persons dying on or after that day.
2 Decrease in rates of estate duty
(1)
The principal Act is hereby amended by repealing the First Schedule (as substituted by section 4(1) of the Estate and Gift Duties Amendment Act 1979 and amended by section 3 of the Estate and Gift Duties Amendment Act 1980), and substituting the First Schedule set out in the Schedule to this Act.
(2)
The following enactments are hereby consequentially repealed:
(a)
Section 4 of the Estate and Gift Duties Amendment Act 1979 and the First Schedule to that Act:
(b)
Section 3 of the Estate and Gift Duties Amendment Act 1980.
Schedule NEW FIRST SCHEDULE TO PRINCIPAL ACT
Section 2
“FIRST SCHEDULE Scale of Rates of Estate Duty
Section 4
| Final Balance of Estate | Rate |
|---|---|
| Note: ‘Excess’ means excess of the final balance in complete dollars | |
| Not exceeding $300,000 | Nil. |
| Exceeding $300,000 | 40 percent of excess over $300,000.” |
This Act is administered in the Inland Revenue Department.
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Versions
Estate and Gift Duties Amendment Act 1981
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