Western Australian Current Acts Western Australian Current Acts (1) In making an
assessment of duty in relation to an acquisition of an interest in an entity,
the time when that acquisition occurs is, for the purposes of this Chapter but
subject to section 173(4)(c) and 204G, to be determined under this section.
(2) If an agreement is
made for the making of the acquisition, whether conditional or not, and
subsection (3) does not apply to the agreement —
(a) the
acquisition is taken to occur when the agreement is made; and
(b)
until the agreement is completed, the interests of persons in the entity are
to be determined for the purposes of this Chapter as if the agreement had been
completed.
Notes for this subsection:
1. Section 195C
provides for the assessment of duty if an agreement referred to in this
subsection is terminated before the assessment is made.
2. Section 196
provides for the reassessment of duty if an agreement referred to in this
subsection is terminated after an assessment of duty is made.
(3) If there is an
agreement for the making of the acquisition, whether conditional or not, and
the entity concerned is not a landholder when the agreement is made but is a
landholder when the agreement is completed, the acquisition occurs when the
agreement is completed.
(3A) If the
acquisition results from a merger of corporations in accordance with
section 160A, the acquisition occurs when the merger is completed.
(4) If subsections
(2), (3) and (3A) do not apply, the acquisition occurs when the interest to
which it relates is acquired.
[Section 176 amended: No. 32 of 2012 s. 15; No. 1
of 2015 s. 26; No. 12 of 2019 s. 80.]