TAXATION ADMINISTRATION ACT 1953
Note: See section 3AA .Chapter 5 - Administration
If making a *private ruling would require determining the value of any thing, the Commissioner may:
(a) refer the valuation to a valuer; or
(b) refer a valuation provided by the applicant to a valuer for review.
The Commissioner may request further information: see section 357-105 .359-40(2)
If the Commissioner refers the valuation to a valuer, the Commissioner must tell the applicant that he or she has done so. 359-40(3)
When the valuer has completed its work in relation to the valuation, the Commissioner must tell the applicant that it has done so.
The Commissioner should make a private ruling within 60 days. However, if the Commissioner refers a valuation to a valuer under this section, that period is extended: see subsection 359-50(2) .359-40(4)
The Commissioner may charge the applicant an amount in accordance with the regulations for the valuer making or reviewing the valuation. 359-40(5)
This section does not apply to a valuation of a gift or contribution for the purposes of Division 30 of the Income Tax Assessment Act 1997 .
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.