Ward v Commissioner of Inland Revenue - [1956] NZLR 367

Public Revenue — Death Duties (Estate Duty) — Dutiable Estate — Deceased, in 1932; transferring Property to Sons in Consideration of Their Giving Mortgage securing Annuity to Deceased, and, after His Death, to His Wife — Sons executing Mortgage accordingly — Value of Property, at Deceased's Death in 1949, in Excess of Value of Date of Transfer — Commissioner of Inland Revenue entitled to include Value of Property at Deceased's Death in computing Final Balance of His Dutiable 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, s 5 (1) (j) (ii).