21What is the “dutiable value” of dutiable property?

#### 21 What is the “dutiable value” of dutiable property? 21 What is the “dutiable value” of dutiable property? > > (1) The dutiable value of dutiable property that is subject to a dutiable transaction is the greater of— > > > > > (a) the consideration (if any) for the dutiable transaction (being the amount of a monetary consideration or the value of a non-monetary consideration), and > > > > > (b) the unencumbered value of the dutiable property. > > > (2) The dutiable value of dutiable property transferred by way of foreclosure is the unencumbered value of the dutiable property and not the value of the debt secured by the mortgaged property. > > > (3) The dutiable value of a business asset to which section 28 applies is to be determined in accordance with that section. > > > (4) The dutiable value of a partnership interest referred to in section 29 is to be determined in accordance with that section. > > > (5) The dutiable value of leased property transferred by way of a lease is taken to be the amount of the premium paid or payable in respect of the lease. > > **s 21:** Am 2001 No 22, Sch 1 \[1\]; 2006 No 49, Sch 1 \[5\].