DEATH DUTY STOCK.

Manawatu Standard, Volume LXI, Issue 227, 26 August 1941, Page 6

DEATH DUTY STOCK.

(Press Assn.) WELLINGTON. Aug. ;26 The Reserve Bank has received inf|tiiries 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 lace 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 deatli duty stock subscribed for will he 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 tho 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.