Western Australian Current Acts

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DUTIES ACT 2008 - SECT 116

116 .         Some transfers etc. of dutiable property to beneficiary

        (1)         Nominal duty is chargeable on a transfer of, or an agreement for the transfer of, dutiable property by the trustee of a trust, other than a unit trust scheme or a discretionary trust, to a beneficiary of the trust if —

            (a)         there is no consideration for the transfer or agreement; and

            (b)         the transfer, or agreement, is under and in conformity with the trusts contained in the declaration of trust.

        (2)         Subsection (1) applies only if the property the subject of the agreement or transfer is —

            (a)         wholly or substantially the same as the property the subject of the declaration of trust and the declaration of trust is —

                  (i)         duty endorsed; or

                  (ii)         an exempt transaction;

                or

            (b)         dutiable property representing the proceeds of re-investment of property referred to in paragraph (a); or

            (c)         property to which both paragraphs (a) and (b) apply.

        (3)         Subsection (1) does not apply to a subsequent transfer to which section 118(1) applies.

        [Section 116 amended: No. 12 of 2019 s. 44.]



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