Western Australian Current Acts

DUTIES ACT 2008 - SECT 174

174 .         No exemption where interest transferred within 5 years

        (1)         This section applies if —

            (a)         an acquisition of an interest in a landholder (the first acquisition ) was exempt under section 171; and

            (b)         a further acquisition of an interest in the landholder occurs within 5 years after the day on which the first acquisition occurred; and

            (c)         at the time when the further acquisition occurs the landholder, or a linked entity in respect of the landholder, is using solely or dominantly in the business of primary production any of the land assets to which it was entitled when the first acquisition occurred; and

            (d)         in the opinion of the Commissioner the further acquisition is by way of a transfer of an interest, or part of an interest, in the landholder that was acquired under the first acquisition.

        (2)         The further acquisition is not exempt under section 171 even if it comes within the provisions of that section.

        [Section 174 amended: No. 12 of 2019 s. 79.]