Act Repealed Latest version as at 17 December 1986 (as enacted) | 1986 No 119

Estate and Gift Duties Amendment Act (No 2) 1986

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Contents

Short Title

Notice of payments, etc., without administration to be given to Commissioner

Remission of estate duty, penalty, and interest

Remission of penalty and interest on gift duty

Estate and Gift Duties Amendment Act (No 2) 1986

Public Act		1986 No 119
Date of assent		17 December 1986

	Title
1	Short Title
2	Notice of payments, etc., without administration to be given to Commissioner
3	Remission of estate duty, penalty, and interest
4	Remission of penalty and interest on gift duty
	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

This Act may be cited as the Estate and Gift Duties Amendment Act (No. 2) 1986, 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 Notice of payments, etc., without administration to be given to Commissioner

(1)

Section 45 of the principal Act (as amended by section 8 of the Estate and Gift Duties Amendment Act 1979) is hereby amended by omitting the expression “$4,000”, and substituting the expression “$6,000”.

(2)

Section 8 of the Estate and Gift Duties Amendment Act 1979 is hereby consequentially repealed.

3 Remission of estate duty, penalty, and interest

(1)

Section 59(5) of the principal Act (as amended by section 4(1) of the Estate and Gift Duties Amendment Act 1977) is hereby amended by omitting the expression “$1,000”, and substituting the expression “$5,000”.

(2)

The Estate and Gift Duties Amendment Act 1977 is hereby consequentially amended by repealing section 4(1).

4 Remission of penalty and interest on gift duty

(1)

Section 88 of the principal Act (as amended by section 4(2) of the Estate and Gift Duties Amendment Act 1977) is hereby amended by omitting the expression “$1,000”, and substituting the expression “$5,000”.

(2)

The Estate and Gift Duties Amendment Act 1977 is hereby consequentially amended by repealing section 4(2).

This Act is administered in the Inland Revenue Department.

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Estate and Gift Duties Amendment Act (No 2) 1986