25Liability for gift duty

##### 25 Liability for gift duty (1) Gift duty shall be due and payable on the making of the gift, or, where the gift duty becomes payable, or further gift duty becomes payable, by reason of the making of a subsequent gift, the gift duty or further gift duty, as the case may be, shall be due and payable upon the making of that subsequent gift. (1A) Additional gift duty under section 42 is due and payable on the date specified in the notice of assessment of the additional gift duty as the date on which the additional gift duty is due and payable. (2) Gift duty shall constitute a debt jointly and severally due by the donor and donee to the Commonwealth. (3) Gift duty shall also constitute a first charge on all property (other than money or negotiable instruments) comprised in the gift, but any such charge shall not affect the title of a bona fide purchaser for value without notice of the charge. (4) Where there is more than one donee under the same gift, each of them shall be liable only for the same proportion of the gift duty as the value of his interest bears to the total value of the gift. (5) Where the interest of a donee is a future interest, he shall not become personally liable until it becomes an interest in possession. (6) A trustee may raise such moneys as are necessary to pay gift duty by mortgage with or without power of sale of any property comprised in the gift held by him upon trust. (7) Where the donee is a trustee he shall not be personally liable for the payment of any gift duty in respect of any trust property unless the Commissioner, by notice in writing, advises him that gift duty is due and payable in respect of that trust property, and then only to the extent of the value of so much of that trust property as is held by him on the date upon which the notice is served upon him. (8) In subsections (2), (3), (4), (6) and (7), gift duty also includes additional gift duty under section 27.