Western Australian Current Acts

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DUTIES ACT 2008 - SECT 94

94 .         Transactions for which exempt body and another party would be liable, duty reduction for etc.

        (1)         This section applies to a dutiable transaction to which an exempt body is a party if —

            (a)         the exempt body would, apart from subsection (2), be liable to pay duty chargeable on the transaction; and

            (b)         at least one other party to the transaction is liable to pay duty chargeable on the transaction and is not an exempt body.

        (2)         The exempt body is not liable to pay duty on the transaction.

        (3)         The amount of duty payable on the transaction (AD) is the amount determined under the formula —



                where —

                TD is the amount of duty that would be payable on the transaction if this section did not apply to it;

                EI is —

            (a)         if the interest in the dutiable property that the exempt body has under the transaction is of a kind that enables the proportion which that interest bears to the whole of the dutiable property to be ascertained — that proportion expressed as a percentage; or

            (b)         in any other case — a percentage determined by the Commissioner to represent the proportion which the interest in the dutiable property that the exempt body has under the transaction bears to the whole of the dutiable property.

        (4)         The amount of duty payable by any party referred to in subsection (1)(b) is the amount AD determined under subsection (3).

        Note for this section:

                For example, an exempt body and another party acquire dutiable property as tenants in common. The exempt body acquires 40 of 100 undivided shares and the other party acquires 60 of 100 undivided shares. But for this section the transfer duty chargeable on the transaction would be $3 000. Under the operation of this section the amount of duty payable on the transaction is calculated as follows:

               


                This amount (i.e. $1 800) is the amount of transfer duty payable by the other party.



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