If the unencumbered value of land holdings in Tasmania of a private corporation exceeds $500 000 but does not exceed $750 000, the duty chargeable under this Part is to be calculated in accordance with the following formula:

where –

A is the unencumbered value of the land holdings in Tasmania of the private corporation at the time the dutiable acquisition was made;

B is the duty that, apart from this section, would be chargeable under this Part;

C is the duty calculated under this Act on the dutiable value of the shares or units comprised in the dutiable acquisition.