The dutiable value of
a partnership acquisition is —
(a) the
consideration for the acquisition so far as the consideration relates to
dutiable property —
(i)
held by the partnership; or
(ii)
to which an entity linked to the partnership is entitled;
or
(b) the
value of the partnership interest the subject of the acquisition at the time
when liability for duty on the transaction arises if —
(i)
there is no consideration for the acquisition; or
(ii)
the consideration cannot be ascertained when liability
for duty on the transaction arises; or
(iii)
the value of the partnership interest is greater than the
consideration for the acquisition.