New Zealand Insurance Company Limited v Commissioner of Inland Revenue - [1957] NZLR 1197

Death Duty — Estate Duty — Policy of Insurance effected by Deceased on His Life — Such Policy transferred to Wife in Terms of Separation Agreement — Deceased paying Premiums during Remainder of His Lifetime — Policy disposed of for Adequate Consideration — Policy not "purchased or provided" by Deceased — Policy indefeasibly vested in Wife — No "beneficial interest accruing or arising by survivorship or otherwise" — Death Duties Act 1921, s 5 (1) (f), (g).

Death Duty — Estate Duty — Debts — Covenant in Separation Agreement to pay Maintenance to Former Wife during Her Lifetime — Such Payments allowable as a "debt due by the deceased at his death" — Death Duties Act 1921, s 9 (1).