Western Australian Current Acts

DUTIES ACT 2008 - SECT 47

47 .         Dutiable transaction referred to in s. 45, duty paid on to be credited

                If —

            (a)         a transaction record for a dutiable transaction referred to in section 45 for option property is duty endorsed (the first dutiable transaction ); and

            (b)         as a result of the call option or the put option being exercised either, or both, of the following occur (the second dutiable transaction ) —

                  (i)         an agreement for the transfer of the option property is executed;

                  (ii)         the option property is transferred,

                the amount of duty payable on the second dutiable transaction is to be reduced by the amount of duty paid on the first dutiable transaction.