Stamp Act · s 71

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s 71Exception for transactions for money consideration

(1)

Estate duty shall not be payable in respect of property passing on the death of the deceased by reason only of a bona fide purchase from the person under whose disposition the property passes nor in respect of the determination of any annuity for lives where such purchase was made or such annuity granted for full consideration in money or money’s worth paid to the vendor or grantor for his own use or benefit.

(2)

Where any such purchase was made, or annuity granted for partial consideration in money or money’s worth paid to the vendor or grantor for his own use or benefit, the value of the consideration shall be allowed as a deduction from the value of the property for the purchase of estate duty.