Archibald v Commissioner of Stamp Duties (Qld) [1930] HCA 34

44 C.L.R.] OF AUSTRALIA.

(HIGH COURT OF AUSTRALIA.)

ARCHIBALD APPELLANT 3

THE COMMISSIONER OF STAMP DUTIES )

(QUEENSLAND) 5 REsPONDENT.

ON APPEAL FROM THE SUPREME COURT OF QUEENSLAND.

Stamp Duty (Q.)—Assignment of life assurance policies—Gift—Gift duty—Settlement— Ad valorem stamp duty—Two assessments—Stamp Acts 1894-1926 (Q.) (58 Vict. No. 8—17 Geo. V. No. 10), sec. 59 (1)*—Gift Duty Act 1926 (Q.) (17 Geo. V. No. 23), sec. 10 (1)*.

By two several indentures a person who had insured his life with two life assurance companies, assigned the two policies and all moneys payable in respect thereof to trustees to hold the same and pay Commonwealth and State succession, estate, probate and other duties. It was then declared in both documents that subject as aforesaid the assignments were on trust for the assured's wife should she become a widow, failing which, the assignments were on trust for the children of the assured, and in the event of failure of the trusts, then upon such trusts as the assured should by deed or will direct. 'The indentures provided that failing any such direction the trustees were to pay the moneys to the assured's executors or administrators as part of his estate. 'The two documents were assessed for gift duty under the Gift Duly Act of 1926 (Q.), and the Commissioner of Stamps claimed to assess them for ad valorem stamp duty as settlements under sec. 59 (1) of the Stamp Acts 1894 to 1926 (Q.).

* It is provided by sec. 59 (1) of the Stamp Acts 1894 to 1926 (Q.) that "where any money which may become due or payable upon any policy of life

insurance. . . is settled . . . the instrament whereby the settlement is made. . . is. . . charged with

ad valorem duty," &e. Sec. 10 (1) of the Gift Duty Act of 1926 (Q.) provides "Notwithstanding any-

thing to the contrary in the Stamp Acts