PAYING DEATH DUTIES.
WAR LOAN STOCK ACCEPTED. (PiA.) WELLINGTON, August 26. The Reserve Bank of NeAy Zealand has received inquiries from different parts of New Zealand asking- whether death duty stock issued in terms of the War Loan prospectus is available for death duties at its face value. The bank states that the position is that such stock will, on the death of the stockholder at any time before the maturity date of the loan, be accepted! at par by the Commissioner of Stamps in payment of death duties in the estate of the deceased holder. Therefore, every £IOO of death duty stock subscribed for Avill be accepted in payment of an equivalent amount of death duties.
All that is necessary'is for the subscriber to show on the Application form that the security is required to be issued in the form of death duty stock. On the subscriber’s death the executors in the estate may transfer such stock to the Commissioner of Stamps, Who will accept it at its face value and apply the proceeds towards the payment of death duties.
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Ashburton Guardian, Volume 61, Issue 270, 27 August 1941, Page 7
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181PAYING DEATH DUTIES. Ashburton Guardian, Volume 61, Issue 270, 27 August 1941, Page 7
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