Western Australian Current Acts Western Australian Current Acts (1) If the value of a
dutiable transaction referred to in section 11(1)(d)(ii) or (e) is stated in a
court order the value stated in the order is the dutiable value of the
transaction.
(2) Subject to
subsection (1), the dutiable value of a dutiable transaction that is the
foreclosure of a mortgage over dutiable property is the unencumbered value of
the dutiable property and not the value of the debt secured by the mortgaged
property.
(3) The dutiable value
of a dutiable transaction that is the surrender of a lease (other than a
pastoral lease or diversification lease) is the consideration for the
surrender of the lease paid or payable by the lessor.
(3A) The dutiable
value of a dutiable transaction that is the surrender of a pastoral lease or
diversification lease in the circumstances referred to in section 18(caa) is
the consideration for the surrender of the lease referred to in
section 18(caa)(ii).
(4) The dutiable value
of a dutiable transaction that is the grant of a lease (other than a pastoral
lease or diversification lease) is the total of the following amounts —
(a) the
amount of any consideration for the grant of the lease;
(b) any
amount paid or payable under the lease as rent that —
(i)
is in excess of a fair market rent for the leased
property; and
(ii)
represents an amount paid or payable for the grant of the
lease.
(4A) The dutiable
value of a dutiable transaction that is the grant of a pastoral lease is the
sale price subject to the payment of which the lease is granted under the
Land Administration Act 1997 section 101.
(4B) The dutiable
value of a dutiable transaction that is the grant of a diversification lease
is the consideration for the grant of the lease.
(5) The dutiable value
of a dutiable transaction under a discretionary trust that would be a
transaction described in section 114(1) or 115 except that —
(a)
consideration is paid or payable for the transaction; and
(b) that
consideration is consideration referred to in section 30(1),
is that consideration.
(6) The dutiable value
of a dutiable transaction that is a transfer of, or an agreement for the
transfer of, dutiable property from the trustee of a superannuation fund on
which nominal duty would be chargeable under section 127 but for
section 127(2)(d), is the amount by which the unencumbered value of the
dutiable property transferred exceeds the value of the member’s interest
in the superannuation fund.
[Section 28 amended: No. 30 of 2008 s. 24; No. 32
of 2012 s. 4; No. 12 of 2019 s. 14; No. 4 of 2023 s. 118.]