Income Tax Assessment (1997 Act) Regulations 2021
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-5
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RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS
Division 31
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Conservation covenants
SECTION 31-15.08
VALUATION CERTIFICATES
31-15.08(1)
If the Commissioner completes the valuation, the Commissioner must give a valuation certificate to the applicant for the valuation.
31-15.08(2)
The Commissioner must approve, in writing, one or more forms of a valuation certificate for the purposes of subsection (1).
31-15.08(3)
The certificate must include the following information: (a) the date on which the valuation 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 values mentioned in paragraphs (c) and (d); (f) a statement of the extent to which the difference mentioned in paragraph (e) is attributable to the conservation covenant being entered into.
31-15.08(4)
The certificate may include other information.
31-15.08(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 charge payable for making the valuation.
If the Commissioner completes the valuation, the Commissioner must give a valuation certificate to the applicant for the valuation.
31-15.08(2)
The Commissioner must approve, in writing, one or more forms of a valuation certificate for the purposes of subsection (1).
31-15.08(3)
The certificate must include the following information: (a) the date on which the valuation 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 values mentioned in paragraphs (c) and (d); (f) a statement of the extent to which the difference mentioned in paragraph (e) is attributable to the conservation covenant being entered into.
31-15.08(4)
The certificate may include other information.
31-15.08(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 charge payable for making the valuation.
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