Estate Duty (Amendment) Bill

by inserting, immediately after the words “1st April 1982” in the 3rd line of subsection (1), the words “and before 1st January 2002”; and

by inserting, immediately after subsection (1), the following subsection:“(1A) Estate duty shall not be payable in respect of any movable property passing on the death of any person dying on or after 1st January 2002 who at the time of his death was not domiciled in Singapore.”.

No estate duty shall be payable in respect of any gift of any property passing on the death of a person to the Government or any institution of a public character within the meaning of section 37(9) of the Income Tax Act (Cap. 134) where the gift —

is made on or after 1st January 2002 but before the issue of a notice of assessment by the Commissioner under section 37; (b)is not any property which is deemed as property passing on the death of the person under section 7(1)(c); and

has been accepted by the Government or the institution of a public character, as the case may be,and the value of the property passing on the death of the person shall be deemed not to include the value of the gift for the purpose of assessing the rate of estate duty.(2) For the purpose of subsection (1), the value of any gift of any property passing on the death of a person shall be the market value of the gift at the time of the death of the person.”.

No estate duty shall be payable in respect of any gift inter vivos of —

money; or

any other approved gift,made on or after 1st April 1987 to any approved museum.(2) In this section, “approved” means approved by the Minister or such person as he may appoint.”.