Australian Valuation Office
AVO
1988 – June 2014
Commonwealth valuation service that valued land and property for Commonwealth agencies on a fee-for-service basis, including for taxation, land acquisition and compensation, leasing and asset accounting; in its final years it was a business line of the Australian Taxation Office.
How it came into existence
Established in 1988 as a commercial business unit in the Administrative Services portfolio, continuing the Commonwealth valuation work that began with the valuation of land for federal land tax in 1910.
- Property valuation services
Descent from the taxation office's valuation branch is not confirmed.
Changes during its life
- 9 October 1997Passed to the Department of Finance and Administration when the Department of Administrative Services merged with the Department of Finance.
- January 2014The Government announced that the office would close by 30 June 2014, with the Australian Taxation Office managing the wind-down and offering redundancies to its staff.
How it ended
Closed by 30 June 2014 after the Government decided in January 2014 to shut it because of mounting forecast losses; the Australian Taxation Office, of which it was then a business line, managed the wind-down, and Commonwealth valuation work was left to private-sector valuers.
Main functions
- Valuations for taxation purposes
- Valuations for Commonwealth land acquisition and compensation
- Rental and leasing valuations for Commonwealth property
- Asset valuations for financial reporting
Where it sits
Last in the portfolio of Department of the Treasury.
Lineage
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Sources
Government records and websites
Some dates or links for this organisation are uncertain. Corrections are welcome.