DEATH DUTIES

Wairarapa Age, Volume XXXII, Issue 10682, 31 July 1912, Page 6

DEATH DUTIES

I *~ " . [ THEJR APPORTIONMENT. j QUESTION BEFORE APPEAL COURT. The apportionment of death duty and succession duties among the beneficiaries under the will of the late Henry Homes,' sheepfarmer, of Matalmvi, near- Masterton, was a matter which came before the Court of Appeal on Monday. On the Bench were their Honours the Chief Justice (Sir Robert Stout), Mr Justice Edwards and Mr-Justice Sim. [ The parties were William Henry I Booth am and Charles Elgar. trustees lof the will, plaintiffs, and Svdnev Emily Mary Holmes, widow of the deceased, and John C, Belle C, and , Sydney C. Holmes, three infant children of deceased, defendants. The late Henry Holmes died on 27th April, 1911, and probate of his will was granted to AVilliam Henrv Beetham and Charles Elgar (trustees and executors, on June 27th, 1911. The final balance of the estate of the deceased was assessed by the Commissioner of Stamps at £62,487 14s lid, and the estate duty thereon (at 9|j per cent.) amounted to £6040 9s Bd. The succession of Sydney Emily Mary Holmes was assessed by the Commissioner at £40,442 17s, on which £928 17s 2d is due as succession duty. The succession of the three infant children was assessed at £14,316 7s lid, on which no succession duty is charged. .Other successions not concerned in the proceedings wore assessed at £1728. The trustees of the will took out an originating summons in April last in order that the Supreme Court might decide as to the manner in which the estate duty and the succession duty were to

be apportioned among the successors. The following questions were sub.?, mitted for the decision of "the Court': (1) AA'hetlior any part of the estate duty (and, if so, what part) is payable by Sydney Emily Mary Holmes, either out of the income accruing to her under the will or otherwise? , ... (2) AVhother the succession dut.\[, payable in respect of Sydney Emily Mary Holmes's succession under the* will, is payable out of her income or otherwise? (3) If any part of ' the duties is payable by, Sydney Emily Mary Holmes: (a) Can the plaintiffs after paying the duties immediately recover from her the .part payable by her, If the answer to (a) is in negative: : (I)) Ought the, plaintiffs, after payitfg the duties, to retain from time to time the income accruing to the widow under the will until the amount of dutv payable bv her has been satisfied? •(b) Tn the case of her death before sufficient income has accrued to satisfy 'her share in the duties, will the residue of such share be payable out of her estate by her. executors or administrators? AVhen the matter came before the Supreme Court His Honor the Chief Justice ordered the summons to be removed into the Court of Appeal for argument. ,; Mr G. H. Fell appeared for the plaintiffs, and Mr A. Gray and Mr M. Myers for the defendants. Decision was reserved.