(1) This section
applies to an acquisition referred to in section 171 if immediately before the
acquisition the landholder concerned, or a linked entity in respect of the
landholder, is entitled to —
(a) land
assets in Western Australia that are used solely or dominantly in the business
of primary production; and
(b) land
assets in Western Australia that are not so used.
(2) The following
provisions apply to the acquisition (the partially exempt acquisition )
—
(a)
section 166 is not applicable to or in relation to the partially exempt
acquisition;
(b)
despite Part 6 Division 5, the amount of duty payable in respect of the
partially exempt acquisition is an amount that bears to the amount of duty
calculated under that Division in respect of the acquisition the same
proportion as the value of the land assets referred to in subsection (1)(b)
bears to the value of the landholder concerned, as determined under
section 186.
[Section 172 amended: No. 12 of 2019 s. 77.]