Western Australian Current Acts Western Australian Current Acts (1) Subject to this
section, any of the following is a relevant reconstruction transaction —
(a) any
of the following dutiable transactions, if transfer duty is chargeable —
(i)
an agreement, whether conditional or not, for the
transfer of dutiable property from one member of a family to another member of
the family;
(ii)
a transfer of dutiable property from one member of a
family to another member of the family;
(iii)
a declaration of trust over dutiable property under which
one member of a family holds the property on trust for another member of the
family;
(iv)
a vesting of dutiable property held by one member of a
family in another member of the family;
(v)
a surrender of special dutiable property, within the
meaning of section 18, if the special dutiable property is surrendered by one
member of a family to another member of the family;
(aa) any
of the following foreign dutiable transactions, if foreign transfer duty is
chargeable —
(i)
an agreement, whether conditional or not, for the
transfer of residential property from one member of a family to another member
of the family;
(ii)
a transfer of residential property from one member of a
family to another member of the family;
(iii)
a declaration of trust over residential property under
which one member of a family holds the property on trust for another member of
the family;
(iv)
a vesting of residential property held by one member of a
family in another member of the family;
(v)
a surrender of special residential property, as defined
in section 205F(1), if the special residential property is surrendered by one
member of a family to another member of the family;
(b) a
transfer of a licence for a vehicle from one member of a family to another
member of the family, if vehicle licence duty is chargeable;
[(c) deleted]
(d) an
acquisition by one member of a family from another member of the family of an
interest in an entity, if landholder duty or foreign landholder duty is
chargeable.
(1A) For the purposes
of subsection (1)(a)(v), a surrender of a mining tenement, in whole or in
part, by one member of a family is taken to be a surrender to another member
of the family if the surrender is made in contemplation of, or as part of an
agreement that, the tenement, or the part of the tenement, be granted to or
acquired by the other member of the family.
(1B) For the purposes
of subsection (1)(d), an acquisition of an interest in an entity by one member
of a family is taken to be an acquisition from another member of the family if
—
(a) the
interest of the other member of the family in the entity is decreased because
of the acquisition; or
(b) the
interest of the other member of the family in the entity decreased resulting
in the acquisition.
(2) A transaction
referred to in subsection (1)(a) is not a relevant reconstruction transaction
if, immediately before the transaction, the dutiable property is held, or the
transaction results in the property being held, subject to a discretionary
trust.
(2A) A transaction
referred to in subsection (1)(aa) is not a relevant reconstruction transaction
if, immediately before the transaction, the residential property is held, or
the transaction results in the property being held, subject to a discretionary
trust.
(3) A transfer
referred to in subsection (1)(b) is not a relevant reconstruction transaction
if, immediately before or immediately after the transfer, the vehicle is held
subject to a discretionary trust.
(4) An acquisition
referred to in subsection (1)(d) is not a relevant reconstruction transaction
if, immediately before the acquisition, the interest is held, or the
acquisition results in the interest being held, subject to a discretionary
trust.
(5) A transaction,
transfer or acquisition referred to in subsection (1) is not a relevant
reconstruction transaction if any part of the consideration for the
transaction, transfer or acquisition has been or is to be provided by a person
that is not a member of the family referred to in that subsection.
[Section 260 amended: No. 9 of 2010 s. 5; No. 24
of 2018 s. 10; No. 12 of 2019 s. 120.]