Supporting document requirements for private rulings
This page lists the documents and information we usually need to process private rulings about the subject displayed.
Determining or confirming the value of a thing
Under the law, when you apply for a private ruling about the value of a thing, such as an item of plant, you have two choices. You can ask us to provide a valuation of the thing, or provide us with a valuation and ask us to confirm it.
If you ask us to provide a valuation you should provide:
- Sufficient information for a valuer to identify the thing to be valued.
- If appropriate, details of the location of the thing to be valued.
We will contact you if we require further information.
If you ask us to confirm the value of a thing, you should send:
- a copy of your valuation report with your application. The valuation report should contain sufficient information for a valuer to replicate the valuation process.
The Private rulings and valuations fact sheet (NAT 71796, PDF, 84KB) explains what happens when you apply for a private ruling about the value of a thing.
The guide Market valuation for tax purposes (NAT 72508), provides guidance to taxpayers and their advisers (including valuers) on the processes to establish a market value for taxation purposes, and what we would expect to see in a valuation report.