Dominion Succession Duty Regulations

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Dominion Succession Duty Regulations

SOR/54-743DOMINION SUCCESSION DUTY ACT
Dominion Succession Duty RegulationsPursuant to the powers conferred by section 59 of the Dominion Succession Duty Act, I hereby revoke all regulations heretofore made under that Act and, in substitution therefor, make and establish the following regulations.
JAMES J. McCANN
Minister of National Revenue
Ottawa, December 28, 1954Short Title

1 These regulations may be cited as the Dominion Succession Duty Regulations.

Interpretation

2 In these regulations,

Act
Act means the Dominion Succession Duty Act. (Loi)
Deputy Minister
Deputy Minister means the Deputy Minister of National Revenue Taxation. (sous-ministre)
Minister
Minister means the Minister of National Revenue. (ministre)

Administration

3 (1) The Deputy Minister is authorized to exercise the powers conferred by the Act upon the Minister as fully and effectively as if the said powers were exercised by the Minister.
(2) The forms contained in Schedule A hereto are the forms prescribed for the purposes of the Act.

Statement of Value and Relationship

4 (1) Subject to the provisions of section 16 of the Act, the executor and every heir, legatee, substitute, institute or other successor shall, within six months after the death of the deceased, without any notice or demand therefor, deliver to the Administrator of Succession Duties or a Director-Taxation, the information required by the Act, more generally indicated as the value of all property included in the succession.
(2) For the purposes of subsection (1), Form S.D. 1, Form S.D. 1 Special and Form S.D. 1 NR are hereby prescribed.

5 The forms prescribed by subsection (2) of section 4 shall be used as specified hereunder:

(a) Form S.D. 1 shall be used where the deceased died domiciled within Canada and the value of all property included in the succession exceeds forty thousand dollars, and shall be filed in duplicate together with one certified copy and one office copy of the last will and testament of the deceased;
(b) Form S.D. 1 Special or S.D. 1 shall be used where the deceased died domiciled within Canada and the value of all property included in the succession does not exceed forty thousand dollars and a single copy thereof shall be filed together with one certified copy of the last will and testament of the deceased; and
(c) Form S.D. 1 NR shall be used where the deceased died domiciled outside of Canada, and a single copy thereof shall be filed together with one certified copy of the last will and testament of the deceased.

6 Form S.D. 1 or S.D. 1 Special shall be delivered to a Director-Taxation for the district in which the deceased during his lifetime, filed his last income tax return or the district in which he resided at death.

7 Where the deceased died domiciled outside of Canada, Form S.D. 1 NR shall be delivered to the Administrator of Succession Duties, Taxation Division, Department of National Revenue, Ottawa.

Demand for Information

8 The Deputy Minister, the Administrator of Succession Duties and the Directors-Taxation are hereby empowered to demand by registered letter any information, additional information or explanation pertaining to any matter arising under the Act, and such information or explanation shall be furnished by the heir, legatee, substitute, institute, executor, successor or other person having under his control any such information.

Opening of Safety Deposit Boxes

9 (1) For the purposes of section 51 of the Act, an officer of a branch of a bank (which includes a savings bank operated under the Quebec Savings Banks Act), of a loan or savings company, of an insurance company, or of a trust company approved by the Minister and listed in Schedule B hereto, shall in the presence of a representative of the estate represent the Minister at the opening of a depository located where such officer is employed for the purpose of examining the contents thereof and permitting the withdrawal therefrom of the will of the deceased.
(2) The representative of the estate present at the opening of a depository shall furnish the representative of the Minister with a true and complete list of the contents of the depository certified as being true and complete by the depositary.

10 The representative of the Minister shall complete and sign in duplicate Form S.D. 31, which shall also be signed by the representative of the estate, and shall retain the original thereof and forward the copy together with the certified list of the contents of the depository to the Administrator of Succession Duties or to a Director-Taxation.

Withdrawal of Contents of Safety Deposit Boxes

11 Before the contents of any safety deposit box or depository may be withdrawn, in whole or in part, by any person except as provided for in section 9, there shall be procured from the Deputy Minister or the Administrator of Succession Duties or a Director-Taxation, Form S.D. 32 consenting to the withdrawal of the contents from the safety deposit box or depository; such form shall

(a) bear the signature of the Deputy Minister written, printed or stamped thereon; and
(b) be signed in the space provided for under the words “Verified by” by the Deputy Minister or the Administrator of Succession Duties or a Director-Taxation or an officer authorized by any of them.

Consent to Transfer of Property

12 Except as otherwise provided by the Act, before any property whatsoever may be transferred, the consent on Form S.D. 30, as required by section 50, shall be obtained from the Deputy Minister or the Administrator of Succession Duties or a Director-Taxation; the form shall be completed in the manner prescribed by section 11.

13 Insurance moneys, benevolent and friendly society benefits and superannuation benefits, may be paid to the persons entitled thereto, where the payment does not exceed fifteen hundred dollars; but the person making such payment shall lodge notice of payment at the time thereof with the Administrator of Succession Duties or a Director-Taxation on Form S.D. 17.

14 Bank or company deposits, claims in respect of salary or wages and gratuities may be paid where the payment does not exceed five hundred dollars; but the person making such payment shall lodge notice of payment at the time thereof with the Administrator of Succession Duties or a Director-Taxation on Form S.D. 18.

Notice of Assessment

15 The notice of assessment required by section 23 of the Act shall be in accordance with Form S.D. 7, and shall bear the signature or facsimile signature of the Deputy Minister written, printed or stamped thereon.

Security

16 The security required by section 27 of the Act shall be given

(a) by the deposit with the Receiver General of Canada of a sum of money considered by the Deputy Minister to be sufficient; or
(b) by a bond of indemnity, satisfactory to the Deputy Minister in a penal sum not less than double the amount of the whole or unpaid portion of the estimated duty.

17 Bonds shall be furnished, according to the circumstances, in one of the following forms:

(a) where a company is appointed executor, administrator or trustee by the will of the deceased, or by the court, and the company is by the law of the province authorized to act without security in the administration of the estate, the bond shall be in accordance with Form S.D. 2.
(b) all other executors and administrators shall have Form S.D. 2 endorsed by way of guarantee in support of the executor’s or administrator’s signature by a guarantee company satisfactory to the Deputy Minister; and
(c) every bond required to be filed by a successor shall be in accordance with Form S.D. 3 and shall be endorsed by way of guarantee by a guarantee company satisfactory to the Deputy Minister; every such bond shall be deposited with the Administrator of Succession Duties or a Director-Taxation.

Statement of Debts

18 Debts claimed as allowances and not shown on Form S.D. 1 or S.D. 1 NR as being particular to the property described shall be declared on Form S.D. 14, and shall be filed with the Administrator of Succession Duties or a Director-Taxation at the time of the completion and filing of Form S.D. 1 or S.D. 1 NR; the Form S.D. 14 shall set forth general debts, in so far as they are then known, funeral expenses, surrogate, probate and other like court fees for which allowance is claimed.

Interest in Expectancy in Possession

19 Where an interest in expectancy falls into possession, and the duty thereon has not been paid, the executor, administrator or trustee, or the person who benefits by such interest in expectancy, shall furnish to a Director-Taxation on Form S.D. 1 where the deceased died domiciled within Canada, or to the Administrator of Succession Duties on Form S.D. 1 NR where the deceased died domiciled outside of Canada, a statement in detail showing particulars of the property in respect of which such interest in expectancy exists, and the value thereof at the time of falling into possession.

Certificate of Discharge

20 Where the Deputy Minister is satisfied that the succession duties have been paid in full by the person or persons who were liable therefor in respect of all properties included in successions from the deceased, he may cause to be issued a Certificate of Discharge on Form S.D. 9; the form shall be completed in the manner prescribed by section 11.

Valuation of Annuities

21 (1) The value of every annuity, term of years, life estate, income or other estate, and of every interest in expectancy, shall be determined

(a) where the succession does not depend on life contingencies, on the basis of compound interest at the rate of four per centum per annum with annual rests; and
(b) where the succession depends on life contingencies, on the basis of compound interest at the rate of four per centum per annum with annual rests, together with the standard of mortality as defined in Table II;

and Tables I, III and IV which are derived from the said bases, shall be used so far as they may be applicable in the valuation of any succession.

(2) The amount of the duty payable in respect of any succession within the terms of paragraph (b) of subsection (3) of section 7 of the Act shall be determined in accordance with Table V.
(3) Tables I, II, III, IV and V are contained in Schedule C hereto.

FORMS

GRAPHICS ARE NOT DISPLAYED, SEE SOR/54-743, PP. 849 TO 868

SCHEDULE BApproved Trust Companies

The Acadia Trust Company

Administration and Trust Company

Barclays Trust Company of Canada

British Canadian Trust Company

The British Mortgage & Trust Corporation of Ontario

The Brockville Trust and Savings Company

The Canada Permanent Trust Company

The Canada Trust Company

The Central Trust Company of Canada

Chartered Trust Company

Co-operative Trust Company Limited

Crown Trust Company

Custodian Trust Company Limited

The Eastern Trust Company

The Equitable Trust Company

Executors and Administrators Trust Company Limited

General Trust of Canada

Guaranty Trust Company of Canada

Guardian Trust Company

The Imperial Trust Company

The Industrial Mortgage and Trust Company

The Lambton Loan & Investment Company

The Maritime Trust Company

Montreal City & District Trustees Limited

Montreal Safe Deposit Company

Montreal Trust Company

Morgan Trust Company Limited

National Trust Company Limited

The Nova Scotia Trust Company

Okanagan Trust Company

Osler & Nanton Trust Company

The Premier Trust Company

Prince Edward Island Trust Company

Prudential Trust Co. Limited

Retailers’ Trust Company Limited

The Royal Trust Company

The Security Trust Company Limited

Sherbrooke Trust Company

The Sterling Trusts Corporation

Toole, Peet Trust Company

The Toronto General Trusts Corporation

Victoria & Grey Trust Company

The Waterloo Trust & Savings Company

Westminster Trust Company

The Yorkshire & Canadian Trust Limited

SCHEDULE CTables

TABLE I
Present Value of Deferred Gifts

Number of Years
Present Value

1
96154

2
92456

3
88900

4
85480

5
82193

6
79031

7
75992

8
73069

9
70259

10
67556

11
64958

12
62460

13
60057

14
57748

15
55526

16
53391

17
51337

18
49363

19
47464

20
45639

21
43883

22
42196

23
40573

24
39012

25
37512

26
36069

27
34682

28
33348

29
32065

30
30832

31
29646

32
28506

33
27409

34
26355

35
25342

36
24367

37
23430

38
22529

39
21662

40
20829

41
20028

42
19257

43
18517

44
17805

45
17120

46
16461

47
15828

48
15219

49
14634

50
14071

51
13530

52
13010

53
12509

54
12028

55
11566

56
11121

57
10693

58
10282

59
09886

60
09506

61
09140

62
08789

63
08451

64
08126

65
07813

66
07513

67
07224

68
06946

69
06679

70
06442

TABLE II
Prescribed Standard of Mortality

Years of Age
Rate of Mortality

At Birth
011310

1
005110

2
003320

3
002160

4
001500

5
001234

6
001243

7
001250

8
001255

9
001256

10
001257

11
001257

12
001257

13
001257

14
001259

15
001262

16
001267

17
001277

18
001290

19
001308

20
001331

21
001360

22
001398

23
001442

24
001496

25
001561

26
001634

27
001721

28
001822

29
001936

30
002065

31
002212

32
002377

33
002562

34
002763

35
002981

36
003216

37
003470

38
003742

39
004037

40
004356

41
004699

42
005068

43
005468

44
005898

45
006362

46
006863

47
007403

48
007983

49
008613

50
009288

51
010018

52
010805

53
011653

54
012566

55
013554

56
014614

57
015760

58
016992

59
018321

60
019753

61
021297

62
022958

63
024749

64
026675

65
028751

66
030986

67
033390

68
035978

69
038763

70
041758

71
044980

72
048444

73
052167

74
056167

75
060464

76
065081

77
070032

78
075349

79
081050

80
087161

81
093709

82
100723

83
108229

84
116257

85
124837

86
134000

87
143786

88
154211

89
165320

90
177138

91
189709

92
203062

93
217216

94
232198

95
248059

96
264796

97
283515

98
305778

99
331840

100
362122

101
397579

102
438921

103
487276

104
542279

105
610442

106
690722

107
800000

108
833333

109
1 000000

TABLE III
Present Value of Life Interests or Life Annuities

Years of Age
Values

$

At Birth
22 30082

1
22 45817

2
22 47646

3
22 45337

4
22 40206

5
22 33313

6
22 25516

7
22 17416

8
22 08999

9
22 00245

10
21 91133

11
21 81646

12
21 71766

13
21 61479

14
21 50767

15
21 39617

16
21 28013

17
21 15942

18
21 03393

19
20 90354

20
20 76815

21
20 62767

22
20 48200

23
20 33109

24
20 17487

25
20 01331

26
19 84638

27
19 67402

28
19 49627

29
19 31314

30
19 12463

31
18 93078

32
18 73166

33
18 52733

34
18 31791

35
18 10340

36
17 88383

37
17 65918

38
17 42949

39
17 19475

40
16 95504

41
16 71038

42
16 46085

43
16 20648

44
15 94740

45
15 68370

46
15 41547

47
15 14287

48
14 86604

49
14 58511

50
14 30028

51
14 01172

52
13 71966

53
13 42430

54
13 12589

55
12 82464

56
12 52088

57
12 21484

58
11 90684

59
11 59717

60
11 28615

61
10 97413

62
10 66145

63
10 34844

64
10 03549

65
9 72295

66
9 41120

67
9 10063

68
8 79160

69
8 48450

70
8 17972

71
7 87762

72
7 57859

73
7 28300

74
6 99119

75
6 70353

76
6 42033

77
6 14195

78
5 86865

79
5 60075

80
5 33852

81
5 08220

82
4 83199

83
4 58812

84
4 35075

85
4 12002

86
3 89602

87
3 67883

88
3 46848

89
3 26492

90
3 06805

91
2 87765

92
2 69343

93
2 51491

94
2 34129

95
2 17131

96
2 00311

97
1 83355

98
1 66145

99
1 48899

100
1 31763

101
1 14827

102
98233

103
82082

104
66494

105
51082

106
36374

107
22313

108
16026

TABLE IV
Present Value of an Annuity for a Term Certain

Number of Years
Values

$

1
96154

2
1 88609

3
2 77509

4
3 62990

5
4 45182

6
5 24214

7
6 00205

8
6 73274

9
7 43533

10
8 11090

11
8 76048

12
9 38507

13
9 98565

14
10 56312

15
11 11839

16
11 65230

17
12 16567

18
12 65930

19
13 13394

20
13 59033

21
14 02916

22
14 45112

23
14 85684

24
15 24696

25
15 62208

26
15 98277

27
16 32959

28
16 66306

29
16 98371

30
17 29203

31
17 58849

32
17 87355

33
18 14765

34
18 41120

35
18 66461

36
18 90828

37
19 14258

38
19 36786

39
19 58448

40
19 79277

41
19 99305

42
20 18563

43
20 37079

44
20 54884

45
20 72004

46
20 88465

47
21 04294

48
21 19513

49
21 34147

50
21 48218

51
21 61749

52
21 74758

53
21 87267

54
21 99296

55
22 10861

56
22 21982

57
22 32675

58
22 42957

59
22 52843

60
22 62349

61
22 71489

62
22 80278

63
22 88729

64
22 96855

65
23 04668

66
23 12181

67
23 19405

68
23 26351

69
23 33030

70
23 39451

71
23 45626

72
23 51564

73
23 57273

74
23 62762

75
23 68041

76
23 73116

77
23 77996

78
23 82689

79
23 87201

80
23 91539

81
23 95711

82
23 99722

83
24 03579

84
24 07287

85
24 10853

86
24 14282

87
24 17579

88
24 20749

89
24 23797

90
24 26728

91
24 29546

92
24 32256

93
24 34861

94
24 37367

95
24 39776

96
24 42092

97
24 44319

98
24 46461

99
24 48520

100
24 50500

TABLE V
Soldiers’ Estates

Age when killed
Normal Expectation of life at time of death
Proportion of Duty

Year
Years
To be paid
To be remitted

15

53 41
2038
7962

16

52 52
2093
7907

17

51 64
2149
7851

18

50 77
2205
7795

19

49 91
2262
7738

20

49 05
2321
7679

21

48 20
2380
7620

22

47 36
2441
7559

23

46 51
2503
7497

24

45 67
2567
7433

25

44 83
2632
7368

26

43 98
2699
7301

27

43 12
2769
7231

28

42 27
2840
7160

29

41 41
2914
7086

30

40 55
2990
7010

31

39 69
3067
6933

32

38 82
3148
6852

33

37 96
3229
6771

34

37 10
3313
6687

35

36 23
3400
6600

36

35 38
3487
6513

37

34 52
3578
6422

38

33 67
3669
6331

39

32 83
3762
6238

40

31 98
3859
6141

41

31 14
3956
6044

42

30 29
4058
5942

43

29 46
4159
5841

44

28 62
4265
5735

45

27 79
4371
5629

46

26 96
4481
5519

47

26 14
4592
5408

48

25 33
4704
5296

49

24 52
4818
5182

50

23 72
4935
5065

51

22 93
5052
4948

52

22 15
5171
4829

53

21 39
5289
4711

54

20 63
5410
4590

55

19 88
5532
4468

56

19 14
5656
4344

57

18 41
5780
4220

58

17 69
5905
4095

59

16 99
6030
3970

60

16 29
6156
3844

61

15 60
6284
3716

62

14 92
6413
3587

63

14 26
6540
3460

64

13 61
6668
3332

65

12 98
6794
3206

66

12 36
6921
3079

67

11 76
7046
2954

68

11 18
7168
2832

69

10 61
7291
2709

70

10 06
7411
2589

71

9 52
7532
2468

72

9 00
7649
2351

73

8 51
7762
2238

74

8 03
7873
2127

75

7 57
7982
2018