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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Duties Amendment (First Home Owner
Concessions) Bill 2024
Contents
1. Short title 2
2. Commencement 2
3. Act amended 2
4. Section 142 amended 2
5. Schedule 2 Division 2 amended 2
6. Schedule 3 Division 13 inserted 3
Division 13 -- Provisions for Duties Amendment
(First Home Owner Concessions) Act 2024
78. Terms used 3
79. Relevant first home owner concessional
transaction 4
80. Application of amended concession
provisions 4
157--1 page i
Western Australia
LEGISLATIVE ASSEMBLY
Duties Amendment (First Home Owner
Concessions) Bill 2024
A Bill for
An Act to amend the Duties Act 2008.
The Parliament of Western Australia enacts as follows:
page 1
Duties Amendment (First Home Owner Concessions) Bill 2024
s. 1
1 1. Short title
2 This is the Duties Amendment (First Home Owner Concessions)
3 Act 2024.
4 2. Commencement
5 This Act comes into operation as follows --
6 (a) sections 1 and 2 -- on the day on which this Act
7 receives the Royal Assent;
8 (b) the rest of the Act -- on the day after that day.
9 3. Act amended
10 This Act amends the Duties Act 2008.
11 4. Section 142 amended
12 In section 142(1)(b)(ii) delete "$530 000." and insert:
13
14 $600 000.
15
16 5. Schedule 2 Division 2 amended
17 In Schedule 2 Division 2 delete:
18
If the property $0 -- $430 000 Nil
includes a home
$430 001 -- $530 000 $19.19 per $100 or
part of $100 above
$430 000
19
page 2
Duties Amendment (First Home Owner Concessions) Bill 2024
s. 6
1 and insert:
2
If the property $0 -- $450 000 Nil
includes a home
$450 001 -- $600 000 $15.01 per $100 or
part of $100 above
$450 000
3
4 6. Schedule 3 Division 13 inserted
5 At the end of Schedule 3 insert:
6
7 Division 13 -- Provisions for Duties Amendment (First Home
8 Owner Concessions) Act 2024
9 78. Terms used
10 In this Division --
11 amended concession provisions means section 142 and
12 Schedule 2 Division 2, as amended by the Duties
13 Amendment (First Home Owner Concessions) Act 2024
14 sections 4 and 5;
15 commencement day means the day on which the Duties
16 Amendment (First Home Owner Concessions) Act 2024
17 section 3 comes into operation;
18 first concessional transaction has the meaning given in
19 section 142(2);
20 further concessional transaction has the meaning given in
21 section 142(2);
22 pre-9 May 2024 agreement has the meaning given in
23 clause 79(2);
24 relevant first home owner concessional transaction has the
25 meaning given in clause 79;
26 substituted transferee has the meaning given in
27 section 141(3).
page 3
Duties Amendment (First Home Owner Concessions) Bill 2024
s. 6
1 79. Relevant first home owner concessional transaction
2 (1) A relevant first home owner concessional transaction is a
3 transaction that --
4 (a) is a first home owner concessional transaction as
5 defined in section 142(1), as amended by the Duties
6 Amendment (First Home Owner Concessions)
7 Act 2024 section 4; and
8 (b) occurs on or after 9 May 2024.
9 (2) An agreement (a pre-9 May 2024 agreement) for the
10 transfer of dutiable property entered into before 9 May 2024
11 is not a relevant first home owner concessional transaction
12 even if the subsequent transfer of the property occurs on or
13 after 9 May 2024.
14 80. Application of amended concession provisions
15 (1) The amended concession provisions apply in relation to the
16 imposition of duty on a relevant first home owner
17 concessional transaction, even if the transaction occurred
18 before commencement day.
19 (2) Despite subclause (1), the amended concession provisions
20 do not apply in relation to the imposition of duty on a
21 relevant first home owner concessional transaction that is a
22 further concessional transaction if the first concessional
23 transaction to which it relates is --
24 (a) a pre-9 May 2024 agreement; or
25 (b) a transfer of dutiable property that is --
26 (i) in conformity with a pre-9 May 2024
27 agreement; or
28 (ii) a transfer of dutiable property the subject of
29 a pre-9 May 2024 agreement to a
30 substituted transferee in relation to the
31 agreement.
32 (3) If subclause (2) applies, duty is chargeable on the further
33 concessional transaction at the same rate and using the same
34 thresholds that applied to the pre-9 May 2024 agreement
page 4
Duties Amendment (First Home Owner Concessions) Bill 2024
s. 6
1 referred to in whichever of subclause (2)(a) or (b)(i) or (ii) is
2 applicable.
3 (4) If an assessment of duty payable on a relevant first home
4 owner concessional transaction to which the amended
5 concession provisions apply was made before
6 commencement day, the Commissioner may, on application
7 or on the Commissioner's own initiative, reassess the duty
8 payable on the transaction in accordance with the amended
9 concession provisions.
10
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