Pursuant 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, 1954
Short Title
These regulations may be cited as the Dominion Succession Duty Regulations.
Interpretation
In these regulations,
Act means the Dominion Succession Duty Act. (Loi)
Deputy Minister means the Deputy Minister of National Revenue Taxation. (sous-ministre)
Minister means the Minister of National Revenue. (ministre)
Administration
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.
The forms contained in Schedule A hereto are the forms prescribed for the purposes of the Act.
Statement of Value and Relationship
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.
For the purposes of subsection (1), Form S.D. 1, Form S.D. 1 Special and Form S.D. 1 NR are hereby prescribed.
The forms prescribed by subsection (2) of section 4 shall be used as specified hereunder:
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;
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
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.
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.
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
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
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.
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.
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
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
bear the signature of the Deputy Minister written, printed or stamped thereon; and
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
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.
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.
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
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
The security required by section 27 of the Act shall be given
by the deposit with the Receiver General of Canada of a sum of money considered by the Deputy Minister to be sufficient; or
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.
Bonds shall be furnished, according to the circumstances, in one of the following forms:
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.
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
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
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
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
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
The value of every annuity, term of years, life estate, income or other estate, and of every interest in expectancy, shall be determined
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
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.
Tables I, II, III, IV and V are contained in Schedule C hereto.
GRAPHICS ARE NOT DISPLAYED, SEE SOR/54-743, PP. 849 TO 868
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
Approved Trust Companies
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
Tables