Time of Gift for Duty Purposes - Date in Gift Statement
Victoria University of Wellington; Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien; Monash University
Recent Law, pp. 182-183, 1983
The question in Sanders v Commissioner of Inland Revenue (1982) 5 NZTC 61,380 was whether two gifts, seemingly made in different years, were actually given within twelve months of each other and were thus liable for gift duty. The court applied the rule that a gift is complete when the donor has done everything that is necessary to complete the transfer of property to the donee. In this case it was found that the two gifts were within twelve months of each other and the Commissioner was right to charge gift duty.
Number of Pages in PDF File: 1
Keywords: Gift Duty, Estate and Gift Duties Act 1968
JEL Classification: K34Accepted Paper Series
Date posted: March 21, 2010
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