104ZA
In forceWhat is the “dutiable value” of a partnership interest?
Chapter 2ADuty charged on certain residential land transactions involving foreign persons
Part 2Dutiable value
104ZA What is the “dutiable value” of a partnership interest?
(cf section 29)
The dutiable value of a partnership interest (DV) is to be determined in accordance with the following formula—
where—
A is the value of the partnership interest, or so much of the consideration for the surcharge duty transaction as relates to the partnership interest, whichever is the greater, and
X is the unencumbered value of all residential-related property of the partnership, and
Y is the unencumbered value of all assets of the partnership.
This Act’s bill:Explanatory memorandumSecond reading speech
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