251AValuation of market rent for commercial lease with

251A Valuation of market rent for commercial lease with premium (1) The commissioner may require a person who is liable to pay duty determined by reference to a premium in relation to a commercial lease with premium to provide a declaration by a competent valuer of the market rent for the lease or to provide the other evidence of the market rent that the commissioner considers appropriate. (2) The commissioner may assess duty taking into account the declaration or other evidence provided under subsection (1).

(3) The commissioner may have the market rent valued (the calculated market rent) if the commissioner is not satisfied with the declaration or other evidence provided under subsection (1). (4) The commissioner may assess duty taking into account the calculated market rent. (5) The commissioner may recover the cost of obtaining the valuation under subsection (3) from the person liable to pay the duty. Note An amount owing under a law may be recovered as a debt in a court of competent jurisdiction or the ACAT (see Legislation Act, s 177). commercial lease with premium––see section 6A. market rent––see section 6. premium––see section 6. 252 Objections Objection may be made by a taxpayer under the Taxation Administration Act, division 10.1 to a decision of the commissioner— (a) under section 23 assessing duty on the basis of a valuation of dutiable property made under the section; or (b) under section 24 (2) refusing to exempt a transaction from aggregation under that section; or (c) under section 25 refusing to disregard the value of goods involved in a dutiable transaction in determining the dutiable value of dutiable property involved in that transaction; or (d) under section 82 (5) refusing to determine that a beneficiary of a discretionary trust is not taken to own or to be otherwise entitled to the property the subject of the trust; or

(e) under section 82 (5) refusing to determine that property that is the subject of a discretionary trust is not taken to be the subject of another discretionary trust; or (f) under section 90A (4) including an interest of an associated person as another acquisition under section 90A (2) (b) in working out the dutiable amount; or (g) under section 92 (5) refusing to determine that a person’s entitlement to participate in a distribution of the property of a landholder is to be evaluated otherwise than in accordance with whichever of section 92 (2) or (3) results in a greater entitlement; or (h) under section 115H (3) refusing to exempt a chapter 3 transaction from duty, other than a determination by the commissioner under section 115HA (7), definition of applicable period, paragraph (b); or (i) under section 115J (2) refusing to grant an exemption from duty; or (j) under section 115K imposing a condition on an exemption; or (k) under section 115L revoking an exemption; or (l) under section 230 (1) refusing to treat a transfer or agreement for the sale or transfer of land, a lease of land, or a transfer or assignment of a lease or permit in respect of land, used for primary production together with any other property that is an integral part of a business of primary production as exempt from duty; or (m) under section 232A (2) imposing a condition on an approval made under section 232A (1); or (n) under section 232G (1) (a) that a transaction is not consequent on the dissolution, annulment or irretrievable breakdown of a marriage; or