(1) In this
Subdivision —
exempt family farm transaction has the meaning
given in section 102;
family member has the meaning given in
section 100;
farming land means land in Western Australia that
is used solely or dominantly for the purpose of primary production;
farming property means —
(a)
farming land; or
(b)
other dutiable property that is used solely or dominantly in connection with
the business of primary production;
transferee has the meaning given in section 101;
transferor , in respect of a dutiable transaction
the subject of which is farming property, means —
(a) an
individual (other than a trustee) from whom the property is, or is to be,
acquired; or
(b) if
the property was held by a trustee (other than a trustee of a unit trust
scheme or a discretionary trust) immediately before the transaction took
place, an individual on whose behalf, and at whose direction, the trustee
carried out the transaction.
(2) For the purposes
of this Subdivision, a person controls a discretionary trust if —
(a) the
person is in a position to influence, either directly or indirectly, the
vesting of the whole or any part of the capital of the trust property, or of
the whole or any part of the income from the trust property; or
(b) in a
case where a corporation is in a position to influence, either directly or
indirectly, the vesting of the whole or any part of the capital of the trust
property, or of the whole or any part of the income from that trust property,
the person is beneficially entitled to a share in that corporation or a
related corporation or to act as a director or secretary of that corporation
or related corporation.
(3) For the purposes
of this Subdivision, farming property is the subject of a dutiable transaction
that is a partnership acquisition to the extent that the property of a kind
referred to in section 72(a) to (d) held by the partnership, or in which the
partnership has an indirect interest under section 73, is farming property.
[Section 99 amended: No. 12 of 2019 s. 36.]