This Commissioner’s practice outlines the circumstances in which the Commissioner will obtain a valuation for the purpose of making a duties assessment of residential land, commercial land or pastoral leasehold land.
Information regarding valuation of mining tenements is detailed in Commissioner’s Practice DA 42 ‘Certain Transactions Involving Mining Tenements’.
This Commissioner’s practice does not apply where the taxpayer is required to provide completed duties valuation forms under Commissioner’s Practices TAA 13 ‘Valuation of Life Interests and Remainder Interests for Duties and Stamp Duty Purposes’ or DA 22 ‘Easements’.
