Death Duly War Loan Stocks
[Per Press Association. —Copyright] WELLINGTON. This Day. 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 bank states that the position isi such that the stock will, on the death of the stockholder at any time before the maturity of the loan, be accepted at par by the Commissioner for Stamps, in payment of death duties in the estate of the deceased holder. Therefore every £IOO of death duty stock subscribed for will be accepted in payment of the equivalent amount of death duties.
All that is necessary is for a subscriber to show on his application form that security is required to be issued in the form of death duty stock. On the subscriber’s death the executors of the estate may transfer such stock to the Commissioner for Stamps, who will accept it at its face value and apply the proceeds towards the payment of the death duties.
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https://paperspast.natlib.govt.nz/newspapers/NA19410826.2.100
Bibliographic details
Northern Advocate, 26 August 1941, Page 6
Word Count
180Death Duly War Loan Stocks Northern Advocate, 26 August 1941, Page 6
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