INCOME TAX ASSESSMENT REGULATIONS 1997

PART 2 - LIABILITY RULES OF GENERAL APPLICATION  

Division 31 - Conservation covenants  

REGULATION 31-15.09   VALUATION CERTIFICATES  

31-15.09(1)  
If the Commissioner completes a valuation, the Commissioner must give a valuation certificate to the applicant for the valuation.

31-15.09(2)  
The Commissioner must approve, in writing, 1 or more forms of a certificate.

31-15.09(3)  
The certificate must include the following information:


(a) the date on which the valution was completed;


(b) a description of the land (including a lot and plan number, title reference and the location of the land);


(c) a statement of the market value of the land immediately before the conservation covenant was entered into;


(d) a statement of the market value of the land immediately after the conservation covenant was entered into;


(e) a statement of the difference between the market value mentioned in paragraph (c) and the market value mentioned in paragraph (d);


(f) a statement of the extent to which the difference mentioned in paragraph (e) is attributable to the conservation covenant being entered into.

31-15.09(4)  
The certificate may include other information.

31-15.09(5)  
The Commissioner must not give a valuation certificate to the applicant until:


(a) the valuation has been completed; and


(b) the Commissioner has received the full amount of the fees payable for the valuation.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.