DEATH DUTY STOCK
ACCEPTANCE AT FACE VALUE (P.A.) WELLINGTON, August 26. The Reserve Bank of New 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 £lOO of death duty stock subscribed for will 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 .state 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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Bibliographic details
Timaru Herald, Volume CL, Issue 22052, 27 August 1941, Page 4
Word Count
182DEATH DUTY STOCK Timaru Herald, Volume CL, Issue 22052, 27 August 1941, Page 4
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