Estate Duty Act 1929 · 2020 Revised Edition · Part 2 · Estate Duty
9. Transactions for money consideration
Feedback & supportEstate duty shall not be payable in respect of —
property passing on the death of the deceased by reason only of a bona fide purchase from the person under whose disposition the property passes;
the falling into possession of the reversion on any lease for lives; or
the determination of any annuity for lives,where the purchase was made, or the lease or annuity granted, for full consideration in money or money’s worth paid to the vendor or grantor for his own use or benefit, or in the case of a lease for the use or benefit of any person for whom the grantor was a trustee.
Where such purchase was made, or such lease or annuity granted, for partial consideration in money or money’s worth paid to the vendor or grantor for his own use or benefit, or in the case of a lease, for the use or benefit of any person for whom the grantor was a trustee, the value of the consideration shall be allowed as a deduction from the value of the property for the purpose of estate duty.
property
“property” includes movable and immovable property of any kind situate or being in Singapore and the proceeds of sale thereof respectively, and any money or investment for the time being representing the proceeds of sale; and, in the case of a deceased person who was at the time of his death domiciled in Singapore, includes movable property wherever it may be;