162 Valuation of property
(1) Subject to this Chapter, the provisions of this Act for
ascertaining the value of transfers chargeable with ad valorem duty extend to
an acquisition statement under this Chapter and the unencumbered value of land
holdings and goods mentioned in it.
(2) In determining the unencumbered value of land holdings or goods
under this Chapter, any arrangement made in respect of the land holdings or
goods that has the effect of reducing the unencumbered value is to be
disregarded, subject to subsection (3).
(3) An arrangement is not to be disregarded if the Chief Commissioner
is satisfied that the arrangement was not made as part of an arrangement or
scheme with a collateral purpose of reducing the duty otherwise payable in
relation to the relevant acquisition.
(4) In considering whether or not he or she is satisfied for the
purposes of subsection (3), the Chief Commissioner may have regard to:
(a) the duration of the arrangement before the relevant acquisition,
(b) whether the arrangement has been made with an associated person,
(c) whether there is any commercial efficacy to the making of the
arrangement other than to reduce duty, and
(d) any other matters the Chief Commissioner considers