- Where the Board is satisfied that estate duty has become payable on any property passing upon the death of any person, and that subsequently within five years estate duty has again become payable on the same property or any part thereof passing on the death of the person to whom the property passed on the first death, the amount of estate duty payable on the second death in respect of the property so passing shall be reduced as follows :.-Where the second death occurs within one year of the first death, by fifty per cent ;Where the second death occurs within two years of the first death, by forty per cent ;Where the second death occurs within three years of the first death, by thirty per cent.;Where the second death occurs within four years of the first death, by twenty per cent.;Where the second death occurs within five years of the first death, by ten per cent.;Provided that where the value on which the duty is payable of the property on the second death exceeds the value on which the duty was payable of the property on the first death, the latter value shall be substituted for the former for the purpose of calculating the amount of duty on which the reduction under this section is to be calculated.Explanation 1. - For the purposes of this section every death shall be deemed to be a second death in relation to the death immediately preceding.Explanation 2. - In computing any period for the purposes of this section, deaths occurring within a period of three months after the death of any person in respect of whose property estate duty has become payable, shall be treated as one death, and no estate duty shall again be payable on the same property by reason of the subsequent deaths occurring within the said period of three months.
