Federal-Provincial Fiscal Arrangements Act (R.S.C. 1970, c. F-6)

Marginal note:Succession duty payments

• 5 (1) The Minister may, for each fiscal year commencing on or after the 1st day of April 1967, pay to a province that does not levy a succession duty as defined by regulation in respect of successions or transmissions consequent upon, or on property passing upon, any death occurring in the fiscal year, an amount equal to the basic estate tax applicable to the province for the fiscal year.

• Marginal note:Idem

  (2) The Minister may, for each fiscal year commencing on or after the 1st day of April 1967, pay to a province that levies a succession duty as defined by regulation in respect of successions or transmissions consequent upon, or on property passing upon, any death occurring in the fiscal year, if that province does not increase its succession duties in the fiscal year beyond the rates thereof in effect on the 31st day of March 1964, an amount equal to one-third of the basic estate tax applicable to the province for the fiscal year.

• Basic estate tax

  (3) In this section basic estate tax as applied to a province for a fiscal year means the amount, as determined by the Minister, that would be derived from a tax equal to seventy-five per cent of the total amount of estate tax payable pursuant to the Estate Tax Act in respect of

  • (a) property situated in the province and included in the estates of persons dying in the fiscal year domiciled in the province,

  • (b) property situated in the province and included in the estates of persons dying in the fiscal year domiciled outside the province, and

  • (c) property (other than real property) situated outside Canada, passing to persons domiciled or resident in the province and included in the estates of persons dying in the fiscal year domiciled in the province.