Duties Act 2001

It does not matter whether the consideration for an instrument or transaction on which duty is imposed is paid or given or is required to be paid or given.

If the consideration, or any part of the consideration, for an instrument or transaction on which duty is imposed consists of property, other than a security, the consideration or part of the consideration is the unencumbered value of the property when the liability for duty arises.

If the consideration, or any part of the consideration, for an instrument or transaction on which duty is imposed consists of a security, other than a marketable security or debenture issued, or to be issued, by a corporation, the consideration or part of the consideration is the amount of principal and interest owing when the liability for duty arises.

If the consideration, or any part of the consideration, for an instrument or transaction on which duty is imposed is a marketable security or debenture issued, or to be issued, by a corporation, the value of the consideration is the market value of the security or debenture when the liability for duty arises.

However, if the marketable security or debenture has not issued when the liability for duty arises, the value of the consideration is the market value of the security or debenture at the date of issue.