162Valuation of property

#### 162 Valuation of property 162 Valuation of property > > (1) Subject to this Chapter, the provisions of this Act for ascertaining the value of transfers chargeable with ad valorem duty extend to an acquisition statement under this Chapter and the unencumbered value of land holdings and goods mentioned in it. > > > (2) In determining the unencumbered value of land holdings or goods under this Chapter, any arrangement made in respect of the land holdings or goods that has the effect of reducing the unencumbered value is to be disregarded, subject to subsection (3). > > > (3) An arrangement is not to be disregarded if the Chief Commissioner is satisfied that the arrangement was not made as part of an arrangement or scheme with a collateral purpose of reducing the duty otherwise payable in relation to the relevant acquisition. > > > (4) In considering whether or not he or she is satisfied for the purposes of subsection (3), the Chief Commissioner may have regard to— > > > > > (a) the duration of the arrangement before the relevant acquisition, and > > > > > (b) whether the arrangement has been made with an associated person, and > > > > > (c) whether there is any commercial efficacy to the making of the arrangement other than to reduce duty, and > > > > > (d) any other matters the Chief Commissioner considers relevant. > > **s 162:** Ins 2009 No 51, Sch 1.2 \[2\]. Am 2009 No 91, Sch 1 \[17\] \[18\].