Oakes v Commissioner of Stamp Duties NSW [1952] HCA 22

Att

'Cakes. Commissioner of Stamy

: THE COMMISSIONER OF STAMP DUTIES

HIGH COURT [1951-1952.

[HIGH COURT OF AUSTRALIA.]

OAKES : qi A i : és '! , APPELLANT ;

AND

OF NEW SOUTH WALES . . } HESPONDENE:

ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES.

H.C. or A. Death Duty (N.S.W.)—Gift made by deceased in his lifetime—Declaration of trust—

1951-1952. Ww SyDNEY, 1951. Nov. 27, 28.

Kitto JJ.

Duties Act 1920-1949 (N. vides that

Deceased not entirely excluded from benefits—Assessment—Stamp Duties Act 1920-1949 (N.S.W.) (No. 47 of 1920—No. 37 of 1949), 8. 102 (2) (d),* 124.

By a deed of trust made in 1924, F. declared that he would hold certain grazing lands and the rents and profits thereof upon certain trusts for himself and his four named children as tenants in common in equal shares, and wide powers-were given to F. as trustee, inter alia, to sell, invest, manage, lease, mortgage and purchase the trust property as well as to reimburse himself for all expenses incurred, and to receive remuneration for work done, in the administration of the trust. In 1928 the property was sold and the proceeds invested in another grazing property subject to the same trusts. Under the powers so conferred upon him F., until his death in October 1947, managed the trust property on which he resided and conducted a grazing business, fixed and received amounts as remuneration of his management, and after

* Section 102 (2) (d) of the Stamp before or after the passing of this 3.W.) pro- Act, of which bona fide possession "102. For the purposes and enjoyment has not been assumed

of the assessment and payment of by the donee immediately upon the death duty but subject as hereinafter gift and thenceforth retained to the provided, the estate of a deceased entire exclusion of the deceased, or of person shall be deemed to include and any benefit to him of whatsoever consist of the following classes of kind or in any way whatsoever property :—(2) (d) any property whether enforceable at Jaw or in comprised in any gift made by equity or not and whenever the the deceased at any time, whether deceased died."