International Double Taxation of Inheritances and Gifts
LXXb Cahiers de Droit Fiscal International, pp. 459-470, 1985
Victoria University of Wellington Legal Research Paper No. 75/2015
9 Pages Posted: 25 Mar 2010 Last revised: 10 Jun 2015
Date Written: 1985
Abstract
The inheritance tax system in New Zealand revolves around an estate duty, levied on deceased estates and a gift duty on inter vivos gifts. There is no capital gains tax. The Estate and Gift Duties Act 1968 does not contain any general anti-avoidance provisions. Avoidance of duty is common. Section 40 of the Act allows for unilateral relief for foreign duties. The article discusses the rationale of international rules relating to duties and conducts an analysis of the adequacy of New Zealand’s rules for the relief of double taxation.
Keywords: Inheritance tax, Double taxation, Gift duty, Estate duty, Anti-avoidance
JEL Classification: K34
Suggested Citation: Suggested Citation