Western Australian Current Acts

DUTIES ACT 2008 - SECT 126

126 .         Some transfers etc. of dutiable property between trustees and custodians of superannuation funds

        (1)         In this section —

        relevant entity , in relation to a transfer of, or an agreement for the transfer of, dutiable property, means —

            (a)         a superannuation fund; or

            (b)         an entity that, in the opinion of its trustee, will be a superannuation fund before the end of the period of 12 months after the day on which the property is transferred.

        (2)         Nominal duty is chargeable on a transfer of, or an agreement for the transfer of, dutiable property from —

            (a)         a trustee of a relevant entity to a custodian of the trustee of the relevant entity; or

            (b)         a custodian of a trustee of a relevant entity to a trustee of the relevant entity; or

            (c)         a custodian of a trustee of a relevant entity to another custodian of the trustee of the relevant entity,

                if there is no change in the beneficial ownership of the property.

        (3)         An application for assessment or reassessment under this section —

            (a)         must be made in the approved form; and

            (b)         if the relevant entity is not a superannuation fund when liability to duty arises — is to be accompanied by a statutory declaration from a trustee (or a director of a trustee that is a corporation) of the relevant entity stating that, in the opinion of the trustee (or director), the relevant entity will be a superannuation fund before the end of the period of 12 months after the day on which the property is transferred.

        [Section 126 amended: No. 15 of 2015 s. 5.]