Western Australian Current Acts

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DUTIES ACT 2008 - SECT 59

59 .         Trust acquisition or trust surrender, dutiable value of

                The dutiable value of a trust acquisition or trust surrender is —

            (a)         the consideration for the acquisition or surrender so far as the consideration relates to dutiable property —

                  (i)         held by the discretionary trust; or

                  (ii)         to which an entity linked to the trustee of the discretionary trust is entitled;

                or

            (b)         the value of the taker in default’s interest in the discretionary trust at the time when liability for duty on the transaction arises if —

                  (i)         there is no consideration for the acquisition or surrender; or

                  (ii)         the consideration cannot be ascertained when liability for duty on the transaction arises; or

                  (iii)         the value of the taker in default’s interest is greater than the consideration for the acquisition or surrender.



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