Document ID: chunk:federal_register_of_legislation:C2006C00470:clause:2_3:p6
Version: federal_register_of_legislation:C2006C00470
Segment Type: clause
Provision Reference: sch 2 cl 3 (pt 6/7)
Character Range: 65672–68398

*taxation law; or
 (b) the matter sought to be ruled on is already being, or has been, considered by the Commissioner for you.

 (3) The Commissioner may also decline to make a *private ruling if the matter sought to be ruled on is how the Commissioner would exercise a power under a relevant provision and the Commissioner has decided or decides whether or not to exercise the power.

Example: Michael applies for a private ruling on the way in which the Commissioner might exercise the Commissioner's discretion under section 255‑10 (deferring the payment time). Rather than make the ruling, the Commissioner decides to defer the time at which an amount would otherwise be payable by Michael.

Note: The Commissioner may also decline to make a private ruling if:

(a) the Commissioner has requested the applicant to give further information under section 357‑105 and the applicant has not given it to the Commissioner within a reasonable time; or

(b) the Commissioner considers that the correctness of a private ruling would depend on which assumptions were made about a future event or other matter (see section 357‑110).

 (4) The Commissioner must give the applicant written reasons for declining to make a *private ruling.

359‑40  Valuations

 (1) If making a *private ruling would require determining the value of any thing, the Commissioner may:
 (a) refer the valuation to a valuer; or
 (b) refer a valuation provided by the applicant to a valuer for review.

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

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

 (3) When the valuer has completed its work in relation to the valuation, the Commissioner must tell the applicant that it has done so.

Note: 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).

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

 (5) 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.

359‑45  Related rulings

  If the Commissioner is making a *private ruling (the first ruling) you sought on the way in which, in the Commissioner's opinion, a relevant provision applies or would apply to you, the Commissioner may:
 (a) make the first ruling a ruling on the way in which another relevant provision applies or would apply to you; or
 (b) make an additional private ruling on the way in which:
 (i) another