DEATH DUTY STOCK

Waikato Times, Volume 129, Issue 21509, 26 August 1941, Page 6

DEATH DUTY STOCK

TERMS OF WAR LOAN RESERVE BANK EXPLANATION (By Telegraph.—press Association) WELLINGTON, Tuesday The Reserve Bank has received inquiries from different parts of New Zealand asking whether death duty stock issued in the 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 eptate 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 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 executor in the estate may transfer such stock to the Commissioner of Stamps who will accept it at its face value and apply the proceed toward the payment of death duties.