DEATH DUTY STOCK
The Reserve Bank 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 position is that such stock will, on the death of the stockholder at anytime before 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 £100 of Death Duty Stock subscribed for will be accepted in payment of an equivalent amount of death duties.
All that is necessary is foe the subscriber to show on the form of application that he or she requires the security to be issued in the form of Death Duty Stock. On his or her death the executors in the estate may transfer such Stock to the Commissioner of Stamps, who will accept it at face value and apply the proceeds towards the payment of death duties.
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https://paperspast.natlib.govt.nz/newspapers/EP19410827.2.16.2
Bibliographic details
Evening Post, Volume CXXXII, Issue 50, 27 August 1941, Page 5
Word Count
168DEATH DUTY STOCK Evening Post, Volume CXXXII, Issue 50, 27 August 1941, Page 5
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