Western Australian Current Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

DUTIES ACT 2008 - SECT 195B

195B .         Assessment of duty where s. 149(1) or 154B applied at acquisition time

        (1)         Subsection (2) applies if —

            (a)         at the time an acquisition (the main acquisition ) of an interest in an entity (the main entity ) occurs —

                  (i)         there is an agreement to which section 149(1)(a) applies in determining the entitlement to land assets, chattels, or land assets and chattels, of the main entity or a linked entity in respect of the main entity; or

                  (ii)         there is an agreement to which section 154B(a) applies in determining the interest that the main entity, or a linked entity in respect of the main entity, has in another entity;

                and

            (b)         after the main acquisition occurs but before an assessment is made in relation to the main acquisition, the agreement has been rescinded, annulled or otherwise terminated without being completed.

        (2)         Section 149(1)(a) or 154B(a) (whichever is relevant) applies to the agreement for the purposes of making an assessment in relation to the main acquisition despite the rescission, annulment or other termination of the agreement, unless the Commissioner is satisfied that the rescission, annulment or other termination of the agreement was not part of a scheme or arrangement under which the object of the agreement has been or may be achieved in another way.

        (3)         Subsection (4) applies if —

            (a)         at the time an acquisition (the main acquisition ) of an interest in an entity (the main entity ) occurs —

                  (i)         there is an agreement to which section 149(1)(b) applies in determining the entitlement to land assets, chattels, or land assets and chattels, of the main entity or a linked entity in respect of the main entity; or

                  (ii)         there is an agreement to which section 154B(b) applies in determining the interest that the main entity, or a linked entity in respect of the main entity, has in another entity;

                and

            (b)         after the main acquisition occurs but before an assessment is made in relation to the main acquisition, the agreement is completed.

        (4)         Despite section 149(1)(b) or 154B(b) (whichever is relevant), the agreement is not to be disregarded for the purposes of making an assessment in relation to the main acquisition.

        [Section 195B inserted: No. 12 of 2019 s. 91.]



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback