Western Australian Current Acts Western Australian Current Acts (1) In this section
—
property means land assets (as defined in
section 148(1)), or chattels, or both;
relevant acquisition has the meaning given in
section 148(1).
(2) For the purposes
of section 266B, landholder duty that is chargeable on a relevant acquisition
of an interest in an entity is taken to be chargeable in relation to —
(a) for
property of which 100% of the value is taken into account for the purposes of
calculating that landholder duty — that property; and
(b) for
property of which a lower percentage of the value is taken into account for
the purposes of calculating that landholder duty — a percentage interest
in that property that is equal to the percentage taken into account for the
purposes of calculating that landholder duty.
(3) For the purposes
of subsection (2), the percentage of the value of property that is taken into
account for the purposes of calculating landholder duty is to be determined in
accordance with the following formula —
where —
P is the percentage
(expressed as a decimal) of the unencumbered value of that property taken into
account under section 186 in determining the value of the landholder;
I is the percentage
(expressed as a decimal) of the interest of the acquirer in the landholder
after the relevant acquisition referred to in section 188(3);
E is the aggregate
percentage (expressed as a decimal) of each excluded interest in relation to
the relevant acquisition referred to in section 189.
[Section 266C inserted: No. 12 of 2019 s. 128.]