Taxation Administration Act 1996

The Chief Commissioner may, for the purpose of making an assessment of the tax liability of a taxpayer—

require the taxpayer, by written notice, to provide evidence of the value of property that the Chief Commissioner considers appropriate, or

obtain a valuation of property from a person the Chief Commissioner is satisfied is suitably qualified to provide evidence of the value of property, or

rely on a valuation of property prepared for any purpose by a person the Chief Commissioner is satisfied is suitably qualified to provide evidence of the value of property.

The Chief Commissioner may recover from the taxpayer the cost of obtaining a valuation of property under subsection (1)(b) if—

the value of the property in the valuation obtained by the Chief Commissioner differs from the value of the property provided by the taxpayer by at least 10%, or

the taxpayer fails to comply with a written notice given to the taxpayer under subsection (1)(a) within 60 days after the notice is issued.