24Interests, agreements and arrangements that reduce the dutiable value

#### 24 Interests, agreements and arrangements that reduce the dutiable value 24 Interests, agreements and arrangements that reduce the dutiable value > > (1) In determining the dutiable value of dutiable property under this Part, any interest, agreement or arrangement (other than an encumbrance) granted or made in respect of the dutiable property that has the effect of reducing the dutiable value is to be disregarded, subject to subsection (2). > > > (2) An interest, agreement or arrangement is not to be disregarded if the Chief Commissioner is satisfied that it was not granted or made as a part of an arrangement or scheme with a collateral purpose of reducing the duty otherwise payable on the dutiable transaction. > > > (3) In considering whether or not he or she is satisfied for the purposes of subsection (2), the Chief Commissioner may have regard to— > > > > > (a) the duration of the interest, agreement or arrangement before the dutiable transaction, and > > > > > (b) whether the interest, agreement or arrangement has been granted to or made with an associated person, and > > > > > (c) whether there is any commercial efficacy to the granting of the interest or the making of the agreement or arrangement other than to reduce duty, and > > > > > (d) any other matters the Chief Commissioner considers relevant. > > **s 24:** Subst 2002 No 108, Sch 1 \[4\]; 2003 No 80, Sch 1 \[6\].