Income Tax Assessment Amendment Regulations 2002 (No. 4) (172 of 2002)

Schedule 1   Amendments

[6]   Subregulations 30-212.10 (1) and (2)

substitute

(1) The fee for carrying out a valuation is the greater of:

(a) the sum of:

(i) for each complete hour taken to carry out the valuation - $174; and

(ii) for a part of an hour - an amount worked by multiplying $2.90 by the number of minutes taken; and

(b) the actual cost of the valuation.

Note For some types of property to which subsection 30-212 (1) of the Act applies, the Commissioner is likely to need specialist valuation assistance for which the actual cost may be more than $174 per hour (for example, the professional valuation of artwork).