Estate Duty on Joint Bank Accounts

New Zealand Law Journal, pp. 157-159, May 1, 1979

3 Pages Posted: 2 Feb 2010

See all articles by John Prebble KC

John Prebble KC

Victoria University of Wellington, Te Herenga Waka - Faculty of Law; Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien; University of Notre Dame Australia - School of Law

Date Written: May 1979

Abstract

Re Donald (1977) 2 TRNZ 275 dealt with valuing a wife’s interest in a bank account held jointly with her husband, on his death. Somers J held that the wife did not have any beneficial interest in the account until the husband’s death, when she acquired a right to the whole account. This note argues that this conclusion was incorrect. Since the purpose for the account was for both parties to have access to money as required, Somers J should have found that the wife had some beneficial interest in the account before her husband’s death.

Keywords: Estate duty, joint bank account, interest, Re Donald, tax

JEL Classification: K11, K34

Suggested Citation

Prebble KC, John, Estate Duty on Joint Bank Accounts (May 1979). New Zealand Law Journal, pp. 157-159, May 1, 1979, Available at SSRN: https://ssrn.com/abstract=1545544

John Prebble KC (Contact Author)

Victoria University of Wellington, Te Herenga Waka - Faculty of Law ( email )

PO Box 600
Wellington, 6140
New Zealand
+64 4 463 6311 (Phone)
Papers Indexed at HOME PAGE (Fax)

HOME PAGE: http://www.victoria.ac.nz/law/staff/prebble-scholarly.aspx

Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

University of Notre Dame Australia - School of Law

Sydney Campus, New South Wales
Australia

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