Northern Territory Consolidated Acts Northern Territory Consolidated Acts29A. Value of partnership acquisition where merger of 2 or more partnerships
(1) This section applies if:
(a) a person first makes a partnership acquisition on the merger of 2 or more partnerships;
(b) immediately before the merger, the person had a partnership interest in one of the former partnerships; and
(c) the unencumbered value of that partnership interest included all or part of the unencumbered value of the dutiable property of the former partnership which, on the merger, becomes dutiable property of the merged partnership.
(2) The unencumbered value of the person's acquisition on the merger of the partnerships must be reduced by the lesser of:
(a) the value that would be the unencumbered value of the person's partnership acquisition in the merged partnership if the dutiable property of the merged partnership comprised only the dutiable property of the former partnership of which the person was a partner; or
(b) the value that represents the unencumbered value of the person's partnership interest in the former partnership that becomes the dutiable property of the merged partnership.