Tasmanian Numbered Acts Tasmanian Numbered Acts20. What is the unencumbered value of dutiable property?
(1) The unencumbered value of dutiable property is the value of the property determined without regard to any encumbrance to which the property is subject.
(2) The unencumbered value of the goodwill of a business is taken to include the value of any restraint of trade arrangement entered into by the vendor in order to protect the value of the goodwill.
(3) If,
before land is transferred to a transferee, the transferee has made
improvements to the land, the unencumbered value of the land is to be
determined as if those improvements had not been made.