Western Australian Current Acts Western Australian Current Acts (1) The dutiable value
of a transaction referred to in section 67 is the proportion of the dutiable
value of the dutiable property held, directly or indirectly, by the corporate
trustee at the time of the share disposition that is equivalent to the
proportion of the total issued capital of the corporate trustee represented by
the share.
(2) The dutiable value
of the dutiable property held indirectly by a corporate trustee is an amount
determined by applying section 157 as if a reference in that section —
(a) to
land assets were a reference to dutiable property; and
(b) to
the main entity’s total direct or indirect interest in the linked entity
calculated under section 154A were a reference to the total direct or indirect
interest that the corporate trustee has in the linked entity, calculated under
section 154A(2) to (5) as if the corporate trustee were a higher entity
referred to in that section.
(3) In determining the
proportion of the total issued capital of a corporate trustee represented by a
share for the purposes of subsection (1), the respective rights and
obligations pertaining to the share and the other shares in the capital of the
corporate trustee are to be taken into account.
[Section 68 amended: No. 12 of 2019 s. 24.]