RPGT: Situation whereby the disposal price deemed at Market Value

Sch 2, paragraph 5 provides the rules for determining the disposal price. However, there are certain circumstances where the disposal price shall be deemed at market value.

Under Sch 2, Paragraph 9, the consideration in the following transactions is equal to market value:

a. Where the assets are disposed other than at bargain made at arm's length or by way of gift,

b. The disposal of the asset for a consideration that cannot be valued,

c. The disposal of the asset for ma consideration with loss of employment or for recognition of past services,

d. Transfer of real property for satisfaction of the debt,

e. Lump sum disposal of chargeable asserts or

f. Where the transaction has the direct or indirect effect of altering the incidence of tax, relieving any person from any liability, evading or avoiding any duty or liability and hindering the operation of the RPGT Act.