Queensland Numbered Acts

REVENUE AND OTHER LEGISLATION AMENDMENT ACT (NO. 2) 2008 No. 75 - SECT 53

After section 69A--

insert--

'(1) For determining whether a transaction is an eligible transaction, the commissioner may--

(a) by notice given to a relevant person, require the person to lodge a valuation of property prepared by a registered valuer or to provide the other evidence of value the commissioner considers appropriate; or

(b) have property valued; or

(c) rely on a valuation of property prepared by a registered valuer, or other person the commissioner is satisfied is properly qualified to provide evidence of value of the property.

'(2) If the commissioner is not satisfied with the valuation or evidence lodged or provided under subsection (1)(a), the commissioner may--

(a) have the property valued; or

(b) rely on a valuation of the property prepared by a registered valuer, or another person the commissioner is satisfied is properly qualified to provide evidence of value of the property.

'(3) The commissioner may recover the cost of obtaining a valuation under this section from the relevant person.

'(4) In this section--

property means--

(a) a home; or

(b) land; or

(c) a relevant interest in land.

registered valuer means a valuer registered under the Valuers Registration Act 1992.

relevant person means--

(a) an applicant for a first home owner grant in relation to the transaction; or

(b) a former applicant for a first home owner grant in relation to the transaction.'.