Rossiter v Commissioner of Inland Revenue - [1977] 1 NZLR 195

Revenue — Estate gift and other death duties — Gift — Mortgages — Dispositions of property — Interest free mortgage principal repayable in 10 years time — Inadequacy of consideration — Difference between amount loaned and the present value of a sum payable in 10 years time — Estate and Gift Duties Act 1968, s 2(2).

Statutes — Interpretation — Construction with reference to pre-existing law — Self-contained statutes consolidating previous enactments with or without amendments should be interpreted if possible without recourse to antecedents.