South Australian Consolidated Acts South Australian Consolidated Acts56—Duty on property given to uncertain person etc
(1) In the case of any
property derived from a deceased person which is given or accrues to an
uncertain person, or on an uncertain event, duty shall be paid on the
net present value of that property, as if the same had been given by way of
vested remainder to a certain person, and the said duty shall be the greatest
amount of duty applicable on any possible vesting or vestings and on any
possible aggregation of that property with any other property derived from the
deceased person.
(2) Upon any such
property or any part thereof becoming actually vested in any person or persons
who, if he or they had taken the same by way of vested remainder at the time
when the duty became payable, would have been chargeable with a smaller duty
than that actually paid, the commissioner, upon being satisfied that such is
the case, shall order that the difference between the smaller duty aforesaid
and the duty actually paid, with interest on the difference at the rate fixed
pursuant to subsection (3) of this section from the time of payment of
duty under this section, shall be paid to the person entitled to receive the
same, and upon any such order the Treasurer shall pay the same out of the
general revenue.
(3) The Treasurer may,
from time to time, by notice published in the Gazette, fix the rate of
interest payable under subsection (2) of this section.