Morris v Commissioner of Inland Revenue - [1957] NZLR 819

Public Revenue — Death Duties — Dutiable Estate — Debenture transferred by Deceased to Son — Deed providing that Son pay Deceased Annuity by Half-Yearly Instalments — Gift Duty assessed and paid at its Then Value — Deceased entitled to waive All or Any Instalment Payments by Verbal Statement or Otherwise — No Instalment of Annuity paid to Deceased — Value of Debenture at Deceased's Death properly included as Part of Deceased's Dutiable Estate — Payments verbally waived by Deceased Valid Gifts as from Waiver, Deceased being estopped by Deed from Enforcement of Son's Obligation to pay Same — All Instalments waived within Three Years of Deceased's Death properly included in Final Balance of Deceased's Estate — "Disposition of property which is accompanied by . . . a contract for any benefit to the deceased for the term of his life" — Death Duties Act 1921, ss 5 (1) (a), (b), (j) (ii), 39 (d), (f).