Western Australian Current Acts Western Australian Current Acts (1) A reassessment of
duty in respect of a relevant acquisition is required if —
(a) for
the purposes of an assessment —
(i)
an agreement to acquire an interest in land assets,
chattels, or land assets and chattels has, under section 149(1)(a), been
regarded as having been completed; or
(ii)
an agreement to acquire an interest in an entity has,
under section 154B(a), been regarded as having been completed;
and
(b)
since that determination the agreement has been rescinded, annulled or
otherwise terminated without being completed; and
(c) had
the agreement not been regarded as having been completed —
(i)
the liability for duty in respect of the relevant
acquisition would not have arisen; or
(ii)
the amount of the duty payable would have been less.
(2) A reassessment of
duty in respect of a relevant acquisition is also required if —
(a) for
the purposes of an assessment —
(i)
an agreement to dispose of an interest in land assets,
chattels, or land assets and chattels has, under section 149(1)(b), been
disregarded; or
(ii)
an agreement to dispose of an interest in an entity has,
under section 154B(b), been disregarded;
and
(b)
since that determination the agreement has been completed; and
(c) had
the agreement not been disregarded —
(i)
the liability for duty in respect of the relevant
acquisition would not have arisen; or
(ii)
the amount of the duty payable would have been less.
(3) On application
made by a person that has paid or is liable to pay the duty, the Commissioner
is to make a reassessment of the duty —
(a) if
subsection (1) applies — disregarding the agreement referred to in that
subsection; or
(b) if
subsection (2) applies — having regard to the agreement referred to in
that subsection.
[Section 195 amended: No. 1 of 2015 s. 27; No. 12
of 2019 s. 92.]