sec.11What is the dutiable value of a dutiable transaction

### sec.11 What is the dutiable value of a dutiable transaction The dutiable value of a statutory dutiable transaction is the amount payable for the transaction. The dutiable value of a dutiable transaction that is a partition is determined under section 31 . The dutiable value of a dutiable transaction that is the surrender of a lease of land in Queensland is the total of any premium, fine or other consideration payable for the surrender. The dutiable value of a dutiable transaction that is the acquisition of a new right that is a lease of land in Queensland is the total of any of the following amounts payable for the lease— premiums, fines or other consideration payable for the grant of the lease; consideration paid for, or the value of, any moveable chattels taken over by the lessee from the lessor or outgoing lessee; if, on the leased premises, a business is to be carried on and an amount in excess of what would be the rent if a business was not carried on is charged for the lease—the excess amount. The dutiable value of a dutiable transaction that is a partnership acquisition is determined under part 7 , division 3 . The dutiable value of a dutiable transaction that is a trust acquisition or trust surrender is determined under part 8 , division 5 . The dutiable value of a dutiable transaction that is an agreement for the transfer of dutiable property that is a farm-in agreement is determined under part 8A . Subject to section 48 , the dutiable value of another dutiable transaction is— the consideration for the dutiable transaction; or the unencumbered value of the dutiable property or new right the subject of the transaction if— there is no consideration for the transaction; or the consideration can not be ascertained when the liability for transfer duty arises; or the unencumbered value is greater than the consideration for the transaction. However, the dutiable value of particular dutiable transactions is subject to apportionment under part 4 . s 11 amd 2005 No. 60 s 4 ; 2015 No. 4 s 7 (sec.11-ssec.1) The dutiable value of a statutory dutiable transaction is the amount payable for the transaction. (sec.11-ssec.2) The dutiable value of a dutiable transaction that is a partition is determined under section 31 . (sec.11-ssec.3) The dutiable value of a dutiable transaction that is the surrender of a lease of land in Queensland is the total of any premium, fine or other consideration payable for the surrender. (sec.11-ssec.4) The dutiable value of a dutiable transaction that is the acquisition of a new right that is a lease of land in Queensland is the total of any of the following amounts payable for the lease— premiums, fines or other consideration payable for the grant of the lease; consideration paid for, or the value of, any moveable chattels taken over by the lessee from the lessor or outgoing lessee; if, on the leased premises, a business is to be carried on and an amount in excess of what would be the rent if a business was not carried on is charged for the lease—the excess amount. (sec.11-ssec.5) The dutiable value of a dutiable transaction that is a partnership acquisition is determined under part 7 , division 3 . (sec.11-ssec.6) The dutiable value of a dutiable transaction that is a trust acquisition or trust surrender is determined under part 8 , division 5 . (sec.11-ssec.6A) The dutiable value of a dutiable transaction that is an agreement for the transfer of dutiable property that is a farm-in agreement is determined under part 8A . (sec.11-ssec.7) Subject to section 48 , the dutiable value of another dutiable transaction is— the consideration for the dutiable transaction; or the unencumbered value of the dutiable property or new right the subject of the transaction if— there is no consideration for the transaction; or the consideration can not be ascertained when the liability for transfer duty arises; or the unencumbered value is greater than the consideration for the transaction. (sec.11-ssec.8) However, the dutiable value of particular dutiable transactions is subject to apportionment under part 4 . - (a) premiums, fines or other consideration payable for the grant of the lease; - (b) consideration paid for, or the value of, any moveable chattels taken over by the lessee from the lessor or outgoing lessee; - (c) if, on the leased premises, a business is to be carried on and an amount in excess of what would be the rent if a business was not carried on is charged for the lease—the excess amount. - (a) the consideration for the dutiable transaction; or - (b) the unencumbered value of the dutiable property or new right the subject of the transaction if— (i) there is no consideration for the transaction; or (ii) the consideration can not be ascertained when the liability for transfer duty arises; or (iii) the unencumbered value is greater than the consideration for the transaction. - (i) there is no consideration for the transaction; or - (ii) the consideration can not be ascertained when the liability for transfer duty arises; or - (iii) the unencumbered value is greater than the consideration for the transaction. - (i) there is no consideration for the transaction; or - (ii) the consideration can not be ascertained when the liability for transfer duty arises; or - (iii) the unencumbered value is greater than the consideration for the transaction.