Gift-tax amendment updates rate reference to include the rate in section three, adjusting applicable chargeable rates. The amendment inserts, in subsection (2) of section 19A of the Gift-tax Act, after the words 'or rates specified in the Schedule', the words 'or, as the case may be, at the rate specified in sub-section (2) of section 3', so that subsection (2) will apply that rate alongside the Schedule rates, effective from the first day of April, 1987.
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Gift-tax amendment updates rate reference to include the rate in section three, adjusting applicable chargeable rates.
The amendment inserts, in subsection (2) of section 19A of the Gift-tax Act, after the words "or rates specified in the Schedule", the words "or, as the case may be, at the rate specified in sub-section (2) of section 3", so that subsection (2) will apply that rate alongside the Schedule rates, effective from the first day of April, 1987.
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