Estate duty became more progressive in scale, eventually peaking in 1969 with the highest marginal rate fixed at 85 % of amounts in excess of ?50, 000, provided that total duty did not exceed 80 % of the value of the total estate.
32.
Fisher and Labor continued to implement promised peacetime legislation, including the " River Murray Waters Act 1915 ", the " Freight Arrangements Act 1915 ", the " Sugar Purchase Act 1915 ", the " Estate Duty Assessment " and the " Estate Duty " acts in 1914.
33.
Fisher and Labor continued to implement promised peacetime legislation, including the " River Murray Waters Act 1915 ", the " Freight Arrangements Act 1915 ", the " Sugar Purchase Act 1915 ", the " Estate Duty Assessment " and the " Estate Duty " acts in 1914.
34.
With respect to real property, succession duty ceased to be calculated on the value of the life interest in the succession, being instead based on the principal value of the property after deducting the liability for related estate duty, together with expenses incurred in raising funds for paying it.
35.
Meanwhile, a total of 55 ambitious proposals were recommended, rangingfrom the abolition of estate duty and stamp duties on equity deals andscrapping withholding tax on debt papers issued in Singapore to theestablishment of more derivatives markets and encouragement of a privatepension industry, which were all designed to persuade foreign financecompanies to borrow and lend money in Singapore.
