Income Tax Assessment Regulations 1997
For section 31-15 of the Act, this Division sets out:
(a) the procedure for seeking a valuation of the change in the market value of the land mentioned in that section; and
(b) the fees that may be payable for the valuation; and
(c) arrangements for the payment of fees.
Section 31-15 of the Act applies to a person who enters into a conservation covenant over land owned by the person, if the conditions mentioned in subsection 31-5(2) of the Act are met. Subsection 31-15(1) provides that the person must seek a valuation of the change in the market value of the land from the Commissioner. Subsection 31-15(2) provides that the Commissioner may charge the person the amount worked out in accordance with the regulations for making the valuation.