DOMINION SUCCESSION DUTY ACTDominion Succession Duty RegulationsDominion 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. McCANNMinister of National RevenueOttawa, December 28, 1954Short TitleThese regulations may be cited as the Dominion Succession Duty Regulations.InterpretationIn 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)AdministrationThe 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 RelationshipSubject 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; andForm 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 InformationThe 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 BoxesFor 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 BoxesBefore 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 shallbear the signature of the Deputy Minister written, printed or stamped thereon; andbe 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 PropertyExcept 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 AssessmentThe 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.SecurityThe security required by section 27 of the Act shall be givenby the deposit with the Receiver General of Canada of a sum of money considered by the Deputy Minister to be sufficient; orby 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; andevery 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 DebtsDebts 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 PossessionWhere 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 DischargeWhere 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 AnnuitiesThe value of every annuity, term of years, life estate, income or other estate, and of every interest in expectancy, shall be determinedwhere 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; andwhere 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.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.Tables I, II, III, IV and V are contained in Schedule C hereto.GRAPHICS ARE NOT DISPLAYED, SEE SOR/54-743, PP. 849 TO 868Approved Trust CompaniesThe Acadia Trust CompanyAdministration and Trust CompanyBarclays Trust Company of CanadaBritish Canadian Trust CompanyThe British Mortgage & Trust Corporation of OntarioThe Brockville Trust and Savings CompanyThe Canada Permanent Trust CompanyThe Canada Trust CompanyThe Central Trust Company of CanadaChartered Trust CompanyCo-operative Trust Company LimitedCrown Trust CompanyCustodian Trust Company LimitedThe Eastern Trust CompanyThe Equitable Trust CompanyExecutors and Administrators Trust Company LimitedGeneral Trust of CanadaGuaranty Trust Company of CanadaGuardian Trust CompanyThe Imperial Trust CompanyThe Industrial Mortgage and Trust CompanyThe Lambton Loan & Investment CompanyThe Maritime Trust CompanyMontreal City & District Trustees LimitedMontreal Safe Deposit CompanyMontreal Trust CompanyMorgan Trust Company LimitedNational Trust Company LimitedThe Nova Scotia Trust CompanyOkanagan Trust CompanyOsler & Nanton Trust CompanyThe Premier Trust CompanyPrince Edward Island Trust CompanyPrudential Trust Co. LimitedRetailers’ Trust Company LimitedThe Royal Trust CompanyThe Security Trust Company LimitedSherbrooke Trust CompanyThe Sterling Trusts CorporationToole, Peet Trust CompanyThe Toronto General Trusts CorporationVictoria & Grey Trust CompanyThe Waterloo Trust & Savings CompanyWestminster Trust CompanyThe Yorkshire & Canadian Trust LimitedTables
TABLE I
Present Value of Deferred GiftsNumber of YearsPresent Value1961542924563889004854805821936790317759928730699702591067556116495812624601360057145774815555261653391175133718493631947464204563921438832242196234057324390122537512263606927346822833348293206530308323129646322850633274093426355352534236243673723430382252939216624020829412002842192574318517441780545171204616461471582848152194914634501407151135305213010531250954120285511566561112157106935810282590988660095066109140620878963084516408126650781366075136707224680694669066797006442
TABLE II
Prescribed Standard of MortalityYears of AgeRate of MortalityAt Birth0113101005110200332030021604001500500123460012437001250800125590012561000125711001257120012571300125714001259150012621600126717001277180012901900130820001331210013602200139823001442240014962500156126001634270017212800182229001936300020653100221232002377330025623400276335002981360032163700347038003742390040374000435641004699420050684300546844005898450063624600686347007403480079834900861350009288510100185201080553011653540125665501355456014614570157605801699259018321600197536102129762022958630247496402667565028751660309866703339068035978690387637004175871044980720484447305216774056167750604647606508177070032780753497908105080087161810937098210072383108229841162578512483786134000871437868815421189165320901771389118970992203062932172169423219895248059962647969728351598305778993318401003621221013975791024389211034872761045422791056104421066907221078000001088333331091 000000