Taxation Administration Act 1953

If making a *private ruling would require determining the value of any thing, the Commissioner may:

refer the valuation to a valuer; or

refer a valuation provided by the applicant to a valuer for review.

The Commissioner may request further information: see section 357‑105.

If the Commissioner refers the valuation to a valuer, the Commissioner must tell the applicant that he or she has done so.

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).

The Commissioner may charge the applicant an amount in accordance with the regulations for the valuer making or reviewing the valuation.

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.