Weldon v Union Trustee Company of Australia Limited [1925] HCA 14

OF AUSTRALIA.

{HIGH COURT OF AUSTRALIA.}

ELDON (COMMISSIONER OF TAXES saa " [ MRUMDORTA) 2 pase, pee eas Ke

AND E UNION TRUSTEE COMPANY OF | is SAUSTRALIA LIMITED . . . . f —SSPONDENT.

'ON APPEAL FROM THE SUPREME COURT OF VICTORIA.

te Duty—Valuation of estate—Time as at which valuation to be made—Interest in property subject to annuity—Valuation of annuity—Death of annuitant

ore valuation made—Administration and Probate Act 1915 (Vict.) (No. 2611), '122, 128.

For the purpose of assessing the duty payable under sec. 128 of the Iministration and Probate Act 1915 (Vict.) on the estate of a deceased person, lue of the estate must be ascertained as at his death. Therefore, where entitled at the date of his death to a share in a sum of money which 'subject to the payment of an annuity, the fact that the annuitant died after A's death was immaterial in ascertaining the value of the annuity the purpose of assessing the duty payable on A's estate.

Decision of the Supreme Court of Vietoria (Full Court): In re Jameson, ) VLR. 7; 46 A.L.T. 116, affirmed.

from the Supreme Court of Victoria.

\ case was stated by Robert McIntyre Weldon, Commissioner of e for the State of Victoria, under the provisions of sec. 124 of istration and Probate Act 1915, in which the following facts 'stated :—Margaret Mary Jameson died on 8th January 1921 probate of her will, dated 15th May 1920, was on 6th December

H. C. or A. 1925, _~

MELBOURNE,

May 15, 18.

Knox C.J.,

Isaacs, Higgins,

Rich an Starke JJ.

166 HIGH COURT (192,

H.C. or A. 1921 granted by the Supreme Court of Victoria to the Union Ti 1925. (io, of Australia Ltd., the executor named therein. At the date of

_w

Wexvon her death Mrs. Jameson was entitled under the will of Timothy Union Twomey deceased to a 5/I6ths share in the corpus of his estate, Trst™® that corpus being subject to an annuity for life of £1,200 in favou