Chapter:	112	Title:	INLAND REVENUE ORDINANCE	Gazette Number:
Section:	5B	Heading:	Ascertainment of assessable value on or after 1 April 1983	Version Date:	30/06/1997

(1) This section shall apply to any year of assessment commencing or after 1 April 1983. (Amended 56 of 1993 s. 4)
(2) The assessable value of land or buildings or land and buildings for each year of assessment shall be the consideration, in money or money's worth, payable in that year to, to the order of, or for the benefit of, the owner in respect of the right of use of that land or buildings or land and buildings.
(3) Any consideration payable before the year of assessment commencing on 1 April 1983 in respect of a period of the right of use which starts after, or extends beyond, 1 April 1983 shall, for the purposes of this section, be deemed to be payable in equal monthly instalments during the period of the right of use or during a period of 3 years ending on 31 March 1986, whichever is the shorter.
(4) Any consideration payable in respect of a period of the right of use which is not contained within any one year of assessment shall, for the purposes of this section, be deemed to be payable in equal monthly instalments during the period of the right of use or during a period of 3 years commencing at the start of the period of the right of use to which the consideration relates, whichever is the shorter.
(5) (Repealed 56 of 1993 s. 4)
(6) In this section, "consideration" (代價) includes any consideration payable in respect of the provision of any services or benefits connected with or related to the right of use.