DEATH DUTIES
A SUBSTANTIAL INCREASp. (Our Parliamentary Correspondent.! WpLJANGTON, (October 14. The Bill amending the deatJi duties was introduced in the House last nighf. It is estimated by the Prime Ministci to produce about £250,000 extra l-even ue, which happens to be the amount required for the increased butter subsidy. Mr Masesy said that the proposed rates wer not excessive, jn compart son with other countries. The Bill increases th e exemption from estate duties from £SOO to £IOOO. There is no increase on estates up to £4,000 but after that the new scale exceeds the 010 scale. It is nine per cent instead o. seven per cent on £20,000 and rises t<i a maximum of twenty per cent on estate of £IOO,OOO as against tlie old maximum of fifteen per cent on £145. 000. The succession duties are varied considerably. In-case of a wife for example, the present law allows exemption of £20,000 and charges two per cent on larger estates. The Rill reduces the exmption to £IO,OOO and provides that shall be two per ceni up to £20,000 and four per cent if succession exceeds £20,000. Gift duty is also increased.
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Hokitika Guardian, 15 October 1920, Page 1
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193DEATH DUTIES Hokitika Guardian, 15 October 1920, Page 1
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