21What is the consideration for the transfer of dutiable

21 What is the consideration for the transfer of dutiable property? (1) The consideration for the transfer of dutiable property is taken to include the amount or value of all encumbrances, whether certain or contingent, subject to which the dutiable property is transferred. (2) The consideration for the transfer of the interest of a transferee under an uncompleted agreement for the sale or transfer of dutiable property is taken to include the balance of the amount or value of the consideration that would be required from the transferee under the agreement to complete it in accordance with its terms. (3) If a Crown lease, or declared land sublease, is granted subject to a requirement that the lessee, or sublessee, carry out, or cause to be carried out, works on land other than the land the subject of the lease, or sublease, the cost of carrying out the works is taken to form part of the consideration for the lease or sublease. (4) If a Crown lease is granted— (a) for an initial term; and (b) subject to a right provided by the lease for the lessee to be granted a further term (whether or not the exercise of that right is subject to conditions); the lease is taken to be granted for a term equal to the aggregate of the initial term and the further term, up to a maximum of 99 years, and the consideration for the lease is taken to be the aggregate of— (c) any lump sum paid for the grant of the lease; and (d) any lump sum payable for renewal of the lease; and (e) the rent payable under the lease during the term for which it is taken to have been granted; and (f) any costs that are taken to form part of the consideration under subsection (3).