Commissioner of Stamp Duties (NSW) v Perpetual Trustee Company Limited [1926] HCA 14

ist Narional rrusiees Executor &

Fanon ses

Trustee ie

Ee

ol Tae ce ¥. (1948) TICLR1

HIGH COURT

[1926.

[HIGH COURT OF AUSTRALIA.]

THE COMMISSIONER OF STAMP DUTIES

(NEW SOUTH WALES)

THE PERPETUAL TRUSTEE COMPANY )

LIMITED . 3

' APPELLANT 3;

AND

RESPONDENT.

(WATT'S CASE.)

ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES.

H.C. or A, Stamp Duties—Estate of deceased person—Dutiable estate—Accretion of capital— Station property—Wool acquired by Imperial Government—Distribution of Commonwealth's half share of profits—Distribution of Bawra shares after death and before probate—Property passing under settlement by testator—Life interest reserved—Surrender of life interest—Interest limited to cease on death of testator —Gift—Money—Steamboat ticket—Subject matter of gift not in New South Wales at time of death—Stamp Duties Act 1920 (N.S.W.) (No. 47 of 1920), secs. 100, 102 (2) (a), (b), (c)s (g)*, 104, 105.

1926. Sy Sypyey,

April 12-15.

MeELBouRNE, June 2.

Isaacs, Higgins, Dutty,

Rich and

Starke JJ.

The Central Wool Committee, referred to in John Cooke & Co. Pty. Ltd. v. Commonwealth ( (1922) 31 C.L.R. 394; (1924) 34 C.L.R. 269) and in the regulations contained in the Second Schedule to the Commercial Activities Act

* Sec. 102 of the Stamp Duties Act 1920 (N.S.W.) provides that " For the purposes of the assessment and payment: of death duty the estate of a deceased person shall be deemed to include and consist of the following classes of property:— . . . (2) (a) All property which the deceased has disposed of . by will or by a settlement containing any trust. in respect of that property to take effect after his death . . . : Provided that the property deemed to be included in the estate of the deceased shall be

the property which at the time of his death is subject to such trust. (b) Any property comprised in any gift made by the deceased within three years before his death . including any money paid or other property conveyed or transferred by the deceased within such period in pursuance of a covenant or agreement made at any time by him without full consideration. in money or money's-worth. (c) Any property passing under any settlement, trust, or other disposition of property made by the deceased . . . (i) by