s 6 Remission of estate duty
6.—(1) Where the principal value, as ascertained in accordance with the provisions of this Act, of all property which passes on the death of a person on or after 8 March 1972 and before 1 April 1974, is —(a) $25,000 or less, the estate duty payable in respect of that property shall be remitted in full; and (b) more than $25,000, that part of the estate duty payable in respect of such property which is in excess of the amount equivalent to the difference between the principal value of such property and the amount of $25,000 shall be remitted as in the following formula: where A is the amount of the estate duty payable on the principal value of the property; B is the amount by which the value of the estate exceeds $25,000; and C is the amount of the estate duty to be remitted. (2) Where the principal value, as ascertained in accordance with the provisions of this Act, of all property which passes on the death of a person on or after 1 April 1974 and before 1 April 1977 exceeds $50,000, there shall be allowed in respect of that excess a remission of estate duty at the rates set out in the Seventh Schedule. (3) There shall be allowed in respect of the principal value, as ascertained in accordance with the provisions of this Act, of all property which passes on the death of a person on or after 1 April 1977 and before 1 April 1984 a remission of estate duty at the rates set out in the Eighth Schedule.