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Aggregation of property to form one estate for purpose of duty.
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4. For determining the rate of Estate duty to be paid on any property passing on the death of the deceased, all property so passing in respect of which Estate duty is leviable shall be aggregated so as to form one estate, and the duty shall be levied at the proper graduated rate on the principal value thereof:
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[1]
Provided that any property so passing, in which the deceased never had an interest, [2
or which under a disposition not made by the deceased passes immediately on the death of the deceased to some person other than the wife or husband or a lineal ancestor or lineal descendant of the deceased] shall not be aggregated with any other property but shall be an estate by itself, and the Estate duty shall be levied at the proper graduated rate on the principal value thereof; [2
but if any benefit under a disposition not made by the deceased is reserved or given to the wife or husband or a lineal ancestor or lineal descendant of the deceased, such benefit shall be aggregated with property of the deceased for the purpose of determining the rate of Estate duty.]
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[1 See as to exclusions from aggregation, 63 & 64 Vict. c. 7, s. 12.]
[2 The words in brackets are rep. 63 & 64 Vict. c. 7, s. 18, Sched. 2, as regards persons dying after April 9, 1900. See now s. 12 of that Act.]
[2 The words in brackets are rep. 63 & 64 Vict. c. 7, s. 18, Sched. 2, as regards persons dying after April 9, 1900. See now s. 12 of that Act.] |
