Stamp Act · 2022 Revised Edition · Part · Estate Duties
71. Exception for transactions for money consideration
Official textFrom Attorney General's Chambers, unchanged
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.
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.
money
“money” includes all sums whether expressed in the currency of Brunei Darussalam or in any other currency;
Terms defined in this Act
money
Defined · s 2“money” includes all sums whether expressed in the currency of Brunei Darussalam or in any other currency;
property
Defined · s 2“property” includes movable and immovable property and any estate in any property movable or immovable and any debt and anything in action and any other right or interest in the nature of property whether in possession or not;
property passing on the death
Defined · s 82“property passing on the death” includes property passing either immediately on the death or after any interval and either originally or contingently, and either originally or by way of substitutive limitation, and the expression “on the death” includes “at a period ascertainable only by reference to the death”;
the deceased
Defined · s 82“the deceased” means a person who died after the commencement of this Act;
Part