Western Australian Current Acts

DUTIES ACT 2008 - SECT 195C

195C .         Assessment of duty where s. 176(2) applied at acquisition time

        (1)         This section applies if —

            (a)         under section 176(2), an acquisition is taken to occur when the agreement for the acquisition is made; and

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    after the agreement is made but before an assessment is made in relation to the acquisition, the agreement has been rescinded, annulled or otherwise terminated without being completed.

        (2)         Section 176(2) applies to the terminated agreement, 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)         If the Commissioner is satisfied as described in subsection (2), section 176(2) ceases to apply to the terminated agreement.

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