14AValue of dwelling‑house

14A Value of dwelling‑house

(1) For the purposes of this Act, the value of a dwelling‑house to which an application relates is the amount determined by the Secretary to be the value of the relevant interest owned or to be owned by the applicants or by some or all of the applicants, as the case may be, that relates to the dwelling‑house, being: (a) in the case of a dwelling‑house the construction of which was completed on or before the date that is the prescribed date in relation to the applicant or applicants—the value of that relevant interest on that date; (b) in the case of a dwelling‑house the construction of which was completed after the date that is the prescribed date in relation to the applicant or applicants but before the date on which a decision on the application is made—the value of that relevant interest on the last‑mentioned date; and (c) in any other case—the amount that, if the construction of the dwelling‑house had been completed on the date on which a decision on the application is made, would have been the value of that relevant interest on that date. (2) For the purposes of the making of a determination under subsection (1): (a) the Secretary shall have regard to all matters that he considers relevant, including: (i) the improvements that have been, are being or are to be made on or to the relevant land; (ii) any valuation of the relevant land, or of any improvements that have been, are being or are to be made on or to the relevant land, being a valuation made by or on behalf of the Commissioner of Taxation, at the request of the Secretary, for the purposes of the application; (iii) the cost to the applicant or applicants of the relevant interest that relates to the dwelling‑house; (iv) in the case of a dwelling‑house not of a kind commonly known as a flat or home unit—the cost of construction of the dwelling‑house and of making any other improvements that have been, are being or are to be made on or to the relevant land; and (v) such other matters as are prescribed; but is not required to have regard to any valuation of the dwelling‑house other than a valuation referred to in subparagraph (ii); (b) any part of the improvements that have been, are being or are to be made on or to the relevant land that the Secretary is satisfied is not, or will not be, used by the applicant or applicants, as the case may be, as a dwelling‑house or for purposes connected with the use by the applicant or applicants of the dwelling‑house as a dwelling‑house shall be deemed not to form part of the dwelling‑house; (c) in the case of a dwelling‑house other than a dwelling‑house to which paragraph (d) applies—any part of the relevant land that the Secretary is satisfied is not, or will not be, used by the applicant or applicants, as the case may be, for purposes connected with the use by the applicant or applicants of the dwelling‑house as a dwelling‑house shall be deemed not to form part of the relevant land; and (d) in the case of a dwelling‑house that is, is being or is to be constructed on land that forms part of a rural property: (i) the area of the relevant land shall be deemed to be 0.2 hectare; and (ii) the unimproved value per hectare of that area shall be deemed to be equal to the unimproved value per hectare of the rural property as determined by the Secretary. (3) In this section: