South Australian Consolidated Acts South Australian Consolidated Acts (1) In this
section—
"relevant asset" means any underlying land assets or any South
Australian goods.
(2) The value of any
relevant asset under this Part is to be determined according to the market
value of the relevant asset at the time that the question of value falls to be
determined.
(3) Where no evidence
of the value of a relevant asset or interest acquired or held is furnished to
the Commissioner for the purposes of this Part, or the evidence so furnished
is, in the Commissioner's opinion, unsatisfactory, the Commissioner may cause
a valuation of the asset or interest to be made by some person appointed by
the Commissioner and may apply any such valuation for the purposes of this
Part.
(4) The Commissioner
may, having regard to the merits of the case, charge the whole or a part of
the expenses of, or incidental to, the making of a valuation pursuant to
subsection (3) to any person liable to pay duty under this Part in
relation to an acquisition of the relevant asset or any interest.
(5) A reference in
this section to the acquisition of an asset or interest extends to a notional
acquisition under this Part.
(6) Any determination
of market value under this Part must be based on the unencumbered value.
(7) In addition, when
determining the value of an asset or interest—
(a) it
is to be assumed that a hypothetical purchaser would, when negotiating the
price for any asset or interest, have knowledge of all existing information
relating to the asset or interest; and
(b) no
account is to be taken of any amount that a hypothetical purchaser would have
to expend to reproduce, or otherwise acquire a permanent right of access to
and use of, existing information relating to the asset or interest.