A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination 2020
11. Definitions11. Definitions
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11. Definitions
Professional valuer means:
(1) a person registered or licensed to carry out real property valuations under a Commonwealth, a State or a Territory law; or
(2) a person who carries on a business as a valuer in a State or a Territory where that person is not required to be licensed or registered to carry on a business as a valuer; or
(3) a person who is:
(a) a member of the Australian Property Institute and accredited as a Certified Practicing Valuer; or
(b) a member of the Royal Institution of Chartered Surveyors and accredited as a Chartered Valuation Surveyor; or
(c) a member of the Australian Valuers Institute and accredited as a Certified Practicing Valuer.
Other expressions in this determination have the same meaning as in the GST Act.