Estate Duty (Remission) Order

Estate Duty Act

(Chapter 96, Section 50)

Estate Duty (Remission) Order

O 2

G.N. No. S 316/1974

REVISED EDITION 1997

(25th March 1992)

[1st April 1974]

Citation

1.  This Order may be cited as the Estate Duty (Remission) Order.

Death occurring between 8th March 1972 and 1st April 1974

2.—(1)  In the case of any person dying on or after 8th March 1972 and before 1st April 1974, where the principal value, ascertained in accordance with the provisions of the Act, of all property which passes on the death of that person is —

(a) $25,000 or less, the estate duty payable in respect of that property shall be remitted in full; and

(b) more than $25,000 that part of the estate duty payable in respect of that property which is in excess of the amount equivalent to the difference between the principal value of that property and the amount of $25,000 shall be remitted as in the following formula:

A - B = C.

(2)  In the formula referred to in sub-paragraph (1)(b) —

A	represents the amount of the estate duty payable on the principal value of the property;
B	represents the amount by which the value of the estate exceeds $25,000; and
C	represents the amount of the estate duty to be remitted.

Death occurring after 1st April 1974

3.  In the case of any person dying on or after 1st April 1974, where the principal value, ascertained in accordance with the provisions of the Act, of all property which passes on the death of that person exceeds $50,000, there shall be allowed in respect of that excess a remission of estate duty at the rate set out in the Schedule.

THE SCHEDULE

Principal value of the estate in excess of $50,000	Rates of remission on the duty payable on the respective sum
For every dollar of the first $20,000	90%
For every dollar of the next $20,000	80%
For every dollar of the next $20,000	70%
For every dollar of the next $20,000	60%
For every dollar of the next $20,000	50%
For every dollar of the next $20,000	40%
For every dollar of the next $20,000	30%
For every dollar of the next $20,000	20%
For every dollar of the next $20,000	10%

LEGISLATIVE HISTORY

Estate Duty (Remission) Order

 

This Legislative History is provided for the convenience of users of the Estate Duty (Remission) Order. It is not part of this Order.
1.	G. N. No. S 316/1974—Estate Duty (Remission) Order 1974
	Date of commencement	:	1 April 1974
2.	1974 Revised Edition—Estate Duty (Remission) Order
	Date of operation	:	25 March 1992
3.	1997 Revised Edition—Estate Duty (Remission) Order
	Date of operation	:	25 March 1992