Northern Territory Numbered Acts

REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2015 (NO 18 OF 2015) - SECT 45

(1)     Section 25(1) to (4)

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    (1)     For the purpose of determining whether a person is liable to pay tax or a person's tax liability, the Commissioner may do one or more of the following:

    (a)     require the person to provide to the Commissioner:

        (i)     a valuer's valuation of property; or

        (ii)     other evidence of the value of property satisfactory to the Commissioner;

    (b)     obtain a valuer's valuation of property;

    (c)     adopt any available valuation of property prepared for any purpose (whether or not relating to the determination of tax liability) by a valuer or other person whom the Commissioner considers suitably qualified to value the property.

    (2)     The Commissioner may recover valuation costs from the taxpayer if:

    (a)     the taxpayer is required to provide a valuation or other evidence under subsection (1)(a) and fails to do so; or

    (b)     a valuation obtained or adopted by the Commissioner under subsection (1)(b) or (c) exceeds the valuation provided by the taxpayer by 15% or more.

(2)     Section 25(5)

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all words from "the Commissioner was" to "obtained"

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the valuation obtained or adopted

(3)     Section 25(5)

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only recover the costs of the valuation

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recover valuation costs only

(4)     After section 25(6)

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    (7)     In this section:

"valuation cost" includes the cost of, or incidental to, obtaining or adopting a valuation or otherwise related to the use by the Commissioner of the valuation.