Introduction Details of the Sections Section 155 – Dwelling conditionally exempt from inheritance tax
315.Subsection (1) provides that subsection (2) applies if the single- dwelling interest (or a part of it) has been designated under the specific provisions referred to. Such designations are relatively rare.
316.Subsection (2) provides that where there a single-dwelling interest has been so designated, and remains so, that its taxable value is deemed to be zero.
317.Subsection (3) provides that subsection (4) applies if the single- dwelling interest (or a part of it) has been designated under different specific provisions than those in Subsection (1). Again, such designations are relatively rare.
318.Subsection (4) provides that where there a single-dwelling interest has been so designated, and remains so, that its taxable value is deemed to be zero.
319.Subsection (5) provides definitions relevant to this particular section.