Short Title, commencement, and application

Exemption for pensions payable under group superannuation schemes

Increase in amounts of estate duty, and penalty and interest on gift duty which Commissioner may remit

Exemption for certain elections by members of group superannuation schemes

Exemption for certain payments by employers

Increase in amount of fines for offences

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Estate and Gift Duties Amendment Act 1977

Public Act		1977 No 58
Date of assent		25 November 1977

	Title
1	Short Title, commencement, and application
2	Interpretation
3	Exemption for pensions payable under group superannuation schemes
4	Increase in amounts of estate duty, and penalty and interest on gift duty which Commissioner may remit
5	Exemption for certain elections by members of group superannuation schemes
6	Exemption for certain payments by employers
7	Increase in amount of fines for offences
	Administrative information

An Act to amend the Estate and Gift Duties Act 1968

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title, commencement, and application

(1)

This Act may be cited as the Estate and Gift Duties Amendment Act 1977, and shall be read together with and deemed part of the Estate and Gift Duties Act 1968 (hereinafter referred to as the principal Act).

(2)

Except as otherwise provided in this Act, this Act shall be deemed to have come into force on the 16th day of September 1977, and shall apply to the estates of all persons dying on or after that date and to all gifts made on or after that date.

2 Interpretation

Section 2(1) of the principal Act is hereby amended as from the commencement of the 6th day of August 1976 (being the date on which the Superannuation Schemes Act 1976, except for section 10, came into force) by omitting from paragraph (c) of the definition of “group superannuation scheme” the words “by the Commissioner for the purposes of the Land and Income Tax Act 1954”, and substituting the words “or deemed to be approved for the time being by the Government Actuary under Part II of the Superannuation Schemes Act 1976”.

3 Exemption for pensions payable under group superannuation schemes

Section 35(1) of the principal Act (as amended by section 3 of the Estate and Gift Duties Amendment Act 1974) is hereby further amended—

(a)

By omitting the words “widow of the deceased for the rest of her life or during her widowhood”, and substituting the words “surviving spouse of the deceased for life or until the spouse sooner remarries”:

(b)

By omitting from the proviso the words “the widow” where they first appear, and substituting the words “the surviving spouse”:

(c)

By omitting from the proviso the words “the widow” where they secondly appear, and substituting the words “a widow”.

4 Increase in amounts of estate duty, and penalty and interest on gift duty which Commissioner may remit

(1)

Section 59(5) of the principal Act is hereby amended by omitting the expression “$500”, and substituting the expression “$1,000”.

(2)

Section 88 of the principal Act is hereby amended by omitting the expression “$500”, and substituting the expression “$1,000”.

(3)

This section shall apply in respect of all estate duty, penalty on estate duty, and interest on estate duty, and all penalty on gift duty, and interest on gift duty whether incurred before, on, or after the day on which this Act comes into force.

5 Exemption for certain elections by members of group superannuation schemes

Section 74 of the principal Act is hereby amended—

(a)

By omitting the words “his death”, and substituting the words “his or her death”:

(b)

By omitting the words “other dependant, his”, and substituting the words “her widower or any dependant, the”.

6 Exemption for certain payments by employers

Section 75(1)(c) of the principal Act is hereby amended—

(a)

By inserting, after the words “to the widow”, the words “or the widower”:

(b)

By omitting from subparagraph (ii) the words “and the relatives of or within the second degree of relationship of the widow or of her deceased husband”, and substituting the words “or the widower and the relatives of or within the second degree of relationship of the widow or widower or of her or his deceased spouse”:

(c)

By omitting from subparagraph (iii) the words “is not, and her deceased husband”, and substituting the words “or widower is not, and her or his deceased spouse”.

7 Increase in amount of fines for offences

(1)

Section 95 of the principal Act is hereby amended—

(a)

By omitting from subsection (2) the words “one thousand dollars”, and substituting the expression “$2,000”:

(b)

By omitting from subsection (3) the words “one hundred dollars”, and substituting the expression “$500”:

(c)

By omitting from subsection (4) the words “two hundred dollars”, and substituting the expression “$500”:

(d)

By omitting from subsection (5) the words “two hundred dollars”, and substituting the expression “$500”.

(2)

This section shall apply in respect of any fine imposed pursuant to section 95 of the principal Act on or after the 1st day of January 1978.

This Act is administered in the Inland Revenue Department.

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Estate and Gift Duties Amendment Act 1977