Estate Duty (Amendment) Bill

Bill No. 20/1974

Read the first time on 28th August 1974.

An Act to amend the Estate Duty Act (Chapter 137 of the Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

Short title and commencement

1. This Act may be cited as the Estate Duty (Amendment) Act, 1974, and shall be deemed to have come into operation on the 1st day of April 1974.

Amendment of section 6

2. Subsection (1) of section 6 of the Estate Duty Act (hereinafter in this Act referred to as the “principal Act”) is hereby amended by deleting item (g) thereof and substituting therefor the following: —

“(g)	in the case of any person dying on or after the 9th day of August 1965, and before the 1st day of April 1974 — at the graduated rates set forth in the Fifth Schedule to this Act;
(h)	in the case of any person dying on or after the 1st day of April 1974 — at the graduated rates set forth in the Eighth Schedule to this Act.”.

Amendment of Fifth Schedule

3. The Fifth Schedule to the principal Act is hereby amended by inserting immediately after the figures “1955” appearing in the second line thereof the expression “AND BEFORE 1ST APRIL 1974,”.

New Eighth Schedule

4. The principal Act is hereby amended by inserting immediately after the Seventh Schedule thereto the following new Schedule: —

“EIGHTH SCHEDULE

Section 6(1)(h).

Rates of Estate Duty in the Case of Persons Dying on or After 1ST April 1974

Principal value of the estate

Rate of duty

For every dollar of the first

50,000

Nil

For every dollar of the next

15,000

5 per cent

For every dollar of the next

25,000

7¹/ ₂ per cent

For every dollar of the next

25,000

10 per cent

For every dollar of the next

25,000

12¹/ ₂ per cent

For every dollar of the next

50,000

15 per cent

For every dollar of the next

50,000

20 per cent

For every dollar of the next

100,000

25 per cent

For every dollar of the next

100,000

30 per cent

For every dollar of the next

100,000

35 per cent

For every dollar of the next

250,000

40 per cent

For every dollar of the next

250,000

45 per cent

For every dollar of the next

1,000,000

50 per cent

For every dollar of the next

2,000,000

55 per cent

For every dollar exceeding

4,040,000

60 per cent

”.

Search within Legislation