INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 30 - Gifts or contributions  

Subdivision 30-C - Rules applying to particular gifts of property  

Valuation requirements

SECTION 30-210   Approved valuers  

30-210(1)  


The *Arts Secretary may approve an individual as a valuer of a particular kind of property. The approval must be in writing, signed by the Secretary.

30-210(2)  
The Secretary must, in deciding whether to approve an individual, have regard to:


(a) the individual's qualifications, experience and knowledge in valuing that kind of property; and


(b) the individual's knowledge of the current * GST inclusive market value of that kind of property; and


(c) the individual's standing in the professional community.


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