Bill 38 (Legislature 10, Session 3)

L10 S3 7471

Alberta — Bills

Bill No. 38 of 1946. A BILL TO AMEND THE SUCCESSION DUTY ACT NOTE.

Section of The Succession Duty Act which is amended by

section of the Bill enumerates the exemptions which are allowed under the Act. P.aragraph (

d) as it now stands, exempts gifts, etc., to the University of Alberta, and the proposed new paragraph (

d) extends this exemption to school districts and school divisions in the Province. The amendment to

section is made to conform with a general reduction in interest rates. This

section as it now reads conforms with the rate of interest charged under the Dominion Act, and those of other Provinces. The new

section 39a has been added to prevent the deple tion of assets of an estate by a succession of deaths which are very close together, and enables the Minister to relieve the estate in these cases by a reduction of the duties on the second death by the amount set out in this section. w. S. GRAY, Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) BILL No. 38 of 1946.

An Act to amend The Suc:ees'Sion Duty Act. (Assented to , 1946.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Succession Duty Act, being

chapter of the Revised Statutes -of Alberta, 1942, is hereby amended as to

section by striking out paragraph (

d) thereof and by substituting therefor the following: "(

d) property transferred by grant or gift, or devised or bequeathed for educational purposes to the University of Alberta or to a school district or school division in the Province;". 2. The said Act is further amended as to

section by striking out the word "five", wherever the same occurs therein, and by substituting therefor the word "four". . 3. The said Act is further amended by adding immedi atelyafter

section thereof the following new section: "39a. Where the Minister is satisfied that succession duty has become payable before or after the coming into force of this

section upon or with respect to the succession to any property and that subsequently within five years and after the coming into force of this se:ction succession duty has again be'come ·payable upon or with respect to the suc cession to the same property or any part thereof on the death of the person to whom the property passed on the first death, the amount of succession duty payable on the second death with respect to the succession to such property shall be reduced as follows: I(

a) Where the second death occurs within one year of the first death, by fifty per cent; (

b) Where the second. death occurs within two years of the first death, by forty per cent; (

c) Where the second death occurs within three years of the first death, by thirty per cent; (

d) Where the second death occurs within four years of the first death, by twenty per cent; (

e) Where the second death occurs within five years of the first death, by ten per cent." 4. This A·ct shall come into force on the day upon which it is assented to. . THIRD SESSIQN TENTH LEGISLATURE GEORGE VI BILL

An Act to amend The Succession Duty Act. Received and read the First time ......................................... . Second time ..................................... . Third time ....................................... . HON. MR. MAYNARD. EDMONTON: A. Shnitka, King's Printer. 1946 Title: 1946 (10th, 3rd) Bill 38,

An Act to amend The Succession Duty Act

Document details

Collection	Alberta — Bills
Citation	L10 S3 7471
Type	bill
Volume / chapter	L10 S3 7471
Language	en
Format	json
Source	PROVINCIAL
Identifier	f375eb4d1e6d1e058e96964036b13be1164ca270

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