Public Trustee v Commissioner of Stamp Duties - [1930] NZLR 574

Revenue — Estate Duty — Computation of Dutiable Estate — Life-insurance Policy subject to Mortgage to Insurance Company — "Value" of Policy — "Money payable" thereunder — Face Value of Policy less Amount of Mortgage only allowed by Way of Deduction from Final Balance — Proceeds of Policy bequeathed to Wife — "Value of Succession" acquired by Wife — Deduction allowed from Final Balance of Face Value of Policy — Death Duties Act, 1921–22, ss 5 (f), 13 — Death Duties Amendment Act, 1925, s 2 (1).