28Apportionment—business assets in this and other jurisdictions

#### 28 Apportionment—business assets in this and other jurisdictions 28 Apportionment—business assets in this and other jurisdictions > > (1) Business assets to which this section applies This section applies to a business asset referred to in section 11 (1) (g), being— > > > > > (a) the goodwill of a business, if the business has also supplied goods outside New South Wales, or provided services outside New South Wales, to a customer of the business during the previous 12 months, or > > > > > (b) intellectual property that has also been used or exploited in one or more other Australian jurisdictions during the previous 12 months, or > > > > > (c) a statutory licence or permission under a Commonwealth law if the rights under the licence or permission have been exercised during the previous 12 months in respect of one or more other Australian jurisdictions. > > > (2) How is the dutiable value of a business asset determined? The dutiable value (DV) of a business asset to which this section applies is to be determined in accordance with the following formula— > > > > %20AND%20(No%3D123)%20AND%20(Year%3D1997)%20AND%20(%22Historical%20Document%22%3D0))/g1.gif) > > where— > > > > A is the unencumbered value of the business asset, or so much of the consideration for the dutiable transaction as relates to the business asset, whichever is the greater, and > > > > X is the gross amount (expressed in Australian dollars) of goods supplied, and services provided, in New South Wales by the business to customers of the business during the last 3 completed financial years preceding the dutiable transaction, and > > > > Y is the gross amount (expressed in Australian dollars) of goods supplied, and services provided, in and outside New South Wales by the business to customers of the business during the last 3 completed financial years preceding the dutiable transaction. > > > (3) Subsection (2) applies to intellectual property together with goodwill as if the intellectual property and goodwill comprise a single business asset. > > > (4) If an apportionment cannot be made under subsection (2), the Chief Commissioner may make an apportionment on such basis as the Chief Commissioner considers appropriate in the circumstances. > > > (5) In this section, a reference to a service provided to a customer includes a reference to anything done for a customer pursuant to a contractual obligation. > > > (6) This section applies only to dutiable transactions that occur before 1 July 2016 (the date on which duty on transfers of business assets is abolished). > > **s 28:** Am 2006 No 49, Sch 1 \[8\]; 2008 No 48, Sch 1 \[2\]; 2008 No 122, Sch 1.1 \[5\]; 2009 No 51, Sch 1.5 \[3\]–\[7\]; 2012 No 46, Sch 1.1 \[1\]; 2013 No 50, Sch 1 \[3\]; 2014 No 37, Sch 1 \[3\].