South Australian Consolidated Acts South Australian Consolidated Acts9B—Relief from duty on successive deaths
(1) In this
section—
"limited interest" includes every estate interest or benefit which terminated
during the lifetime or on the death of the person in whom it was vested;
"predecessor" means a person on or by reason of whose death property has
passed to a person;
"successor" means a person to whom property has passed on or by reason of the
death of a predecessor.
(2) Where property has
passed to a successor on or by reason of the death of a predecessor, and the
successor dies not later than five years after the death of the predecessor, a
rebate shall be allowed on the duty on all property derived by other persons
from the successor.
(3) Subject to
subsection (4) every such rebate shall be an amount equal to a percentage
of the duty paid on the property (other than limited interests) which passed
to the successor from his predecessor, and such percentage shall be determined
in accordance with the following rules:
(a) If
the successor died in the first year after the predecessor, fifty per cent;
(b) If
the successor died in the second year after the predecessor, forty per cent;
(c) If
the successor died in the third year after the predecessor, thirty per cent;
(d) If
the successor died in the fourth year after the predecessor, twenty per cent;
(e) If
the successor died in the fifth year after the predecessor, ten per cent.
(4) Where the
net present value of the whole estate of the successor is less than the
net present value of the property (other than limited interests) which passed
to him on or by reason of the death of his predecessor, the rebate shall be a
part of the amount fixed by subsection (3), bearing the same ratio to the
whole of that amount, as the net present value of the whole estate of the
successor bears to the net present value of the said property (other than
limited interests) which passed to him on or by reason of the death of his
predecessor.
(5) Every rebate shall
be apportioned between the several amounts of property derived by persons from
the successor according to the respective amounts of duty chargeable on each
such amount of property.
(6) Where a rebate of
duty is claimed under this section the administrator or some person on his
behalf shall furnish the commissioner with a declaration in the prescribed
form, but the commissioner may require any further statement, declaration, or
information which he may deem necessary.
(7) This section shall
apply to cases where the successor dies after the passing of the Succession
Duties Act Amendment Act 1955 whether the predecessor died before or
after such passing.