Valuation of Pension Rights for Estate Duty Purposes

New Zealand Law Journal, p. 334, 1982

1 Pages Posted: 12 Mar 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

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Date Written: 1982

Abstract

Lorimer v. Commissioner of Inland Revenue 13 ATR 132 considered the question of whether, in valuing a pension for estate duty purposes, any account should be taken of the liability of the pension to income tax. The court held against the objector on the basis of section 25(2) of the Estate and Gift Duties Act 1978, which provides that “for estate duty purposes, the value of any annuity or other interest … shall be calculated on the basis of compound interest”. As the section made no express reference to taking income tax into account the court held that the pension must not be valued without subtracting any allowance for income tax

Keywords: Estate and Gift Duties Act 1978, Estate Duty, Pension, Income tax, Valuation

JEL Classification: K34

Suggested Citation

Prebble KC, John, Valuation of Pension Rights for Estate Duty Purposes (1982). New Zealand Law Journal, p. 334, 1982, Available at SSRN: https://ssrn.com/abstract=1569030

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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