Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_6:p10
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 10/10)
Character Range: 140461–141594

experience and knowledge in valuing that kind of property; and
 (b) the individual's knowledge of the current market value of that kind of property; and
 (c) the individual's standing in the professional community.

Working out the amount you can deduct for a gift of property

30-215  How much you can deduct

 (1) This section contains the rules for working out how much you can deduct for a gift of property that you make to a recipient covered by item 4, 5 or 6 of the table in section 30-15.

 (2) The general rule is that the amount you can deduct for a gift of this kind is the average of the market values specified in the written valuations you got from the approved valuers.

Note: In some situations you must reduce the amount you can deduct: see section 30-220.

 (3) The exceptions to the general rule are set out in this table:

Amount you can deduct for a gift of property
Item                                          In this case:                                                                                                                                                            The amount you can deduct is: