TAXATION ADMINISTRATION REGULATIONS 1976 (REPEALED)

PART 7 - RULINGS  

REGULATION 62   PRIVATE RULINGS - PAYMENT OF CHARGE FOR VALUATIONS AND REVIEWS OF VALUATIONS  

62(1)    
The amount of the charge mentioned in regulation 61 is payable in accordance with this regulation.

62(2)    
The Commissioner:

(a) must estimate the amount of the charge that is likely to be payable for regulation 61 ; and

(b) may determine that:

(i) the valuation or review is likely to be done in parts or stages; and

(ii) the valuer is likely to require the Commissioner to pay the valuer in instalments for making or reviewing the valuation; and

(iii) the estimated amount of the charge may be paid in instalments relating to particular parts or stages of the valuation or review.

62(3)    
The Commissioner must give the applicant a notice that includes:

(a) an explanation of the effect of regulation 61 ; and

(b) the estimated amount of the charge; and

(c) either:

(i) a statement advising that the estimated amount of the charge must be paid (including the clearance of a payment made by cheque or money order) before the valuation or review is conducted; or

(ii) a statement:

(A) advising that the estimated amount of the charge can be paid in instalments relating to particular parts or stages of the valuation or review; and

(B) identifying the amount of the first instalment; and

(C) advising that each instalment must be paid (including the clearance of a payment made by cheque or money order) before the part or stage of the valuation or review to which the instalment relates is conducted.

Note:

Under section 359-40 of the Act, the charge is payable for the valuer making or reviewing a valuation. Therefore, the valuation or review will not be conducted until the estimated charge is paid.

If a valuation needs to be done in parts or stages (for example, if it is complex), a part or stage of the valuation will not be conducted until the relevant instalment is paid.