Western Australian Current Acts Western Australian Current Acts (1) The amount
calculated under section 188(1) is to be reduced by an amount determined by
applying the appropriate rate of duty under section 184(1) to the value of the
excluded interest or the sum of the values of each excluded interest.
(2) An excluded
interest is an interest of the acquirer in the landholder concerned after the
relevant acquisition referred to in section 188, other than the interest
acquired by that relevant acquisition, that is —
(a) an
interest, other than one which cannot be excluded because of subsection (4),
that was held by the person or a related person, or by the person and a
related person, before the day that is 3 years before the day on which the
relevant acquisition occurred; or
(b) an
interest acquired by a relevant acquisition that occurred on or after the day
first referred to in paragraph (a) if duty was chargeable in respect of that
acquisition; or
(c) an
interest in the landholder concerned acquired by an acquisition if immediately
before the acquisition neither the landholder nor a linked entity in respect
of the landholder was entitled to land assets in Western Australia.
(3) The value of an
excluded interest is the same percentage of the value of the landholder
concerned as the percentage of all interests in the landholder that is
represented by the excluded interest.
(4) An interest in the
landholder acquired by an acquisition (the earlier acquisition ) cannot be
excluded under subsection (2)(a) if the relevant acquisition in respect of
which duty is to be calculated under section 188(1) —
(a) is
described in section 163(1)(a) or (b); and
(b) was
made under an arrangement entered into during the prescribed period in respect
of the earlier acquisition.
(5) The reference in
subsection (4) to the prescribed period in respect of the earlier acquisition
is to the period beginning on the day that is 3 years before the day on which
the earlier acquisition occurred and ending on the day that is 3 years after
the day on which the earlier acquisition occurred.
(6) Despite
subsections (4) and (5), an interest that was held by the person or a related
person, or by the person and a related person, before 1 July 2008 (the earlier
acquisition ) is an excluded interest unless the relevant acquisition in
respect of which duty is to be calculated under section 188(1) was made
pursuant to an arrangement entered into —
(a)
during the prescribed period in respect of the earlier acquisition; and
(b) in
the opinion of the Commissioner, for a purpose of avoiding or reducing the
amount of duty payable.
[Section 189 inserted: No. 32 of 2012 s. 21;
amended: No. 32 of 2012 s. 22; No. 12 of 2019 s. 87.]
[ 190-192. Deleted: No. 32 of 2012 s. 21.]