3.
| (1) The amount of estate duty payable upon the value of the estate of any person dying on or after November 15, 1978, shall be computed at the appropriate rates specified in the Schedule to this Act. |
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| (2) For the purpose of estimating the value of the estate of any deceased person, all property forming part of his estate shall be aggregated so as to form one estate, |
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| (3) Property passing on any death shall not be aggregated more than once for the purpose of estimating the of the estate of the deceased, nor shall estate duty be levied more than once on any property on the same death. |
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| (4) The estate duty payable in respect of any property forming part of the estate of a deceased shall be such proportion of the estate duty computed in accordance with subsection (1), payable upon the value of that estate as is equal to the proportion which the value of that property bears to the value of that estate. In determining the value of that property a deduction shall be made of an amount equal to an allowance made under section 17 for any debt or encumbrance referable to such property, |
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Sri Lanka Consolidated Acts