South Australian Consolidated Acts South Australian Consolidated Acts17—Value of gift
For the purpose of computing the value of a gift—
(a) no
allowance shall be made in respect of any contingency affecting the interests
of any donee; and
(b)
subject to this Act, the value of the gift shall be taken to be its value at
the time it is made; and
(c) no
deduction shall be allowed in respect of any mortgage, charge, encumbrance or
liability affecting or incident to the property comprised in the gift existing
at the time it is made, if and so far as the donee is entitled as against the
donor or any other person or as against any other property to any right of
indemnity or contribution in respect of the mortgage, charge, encumbrance or
liability.