Western Australian Current Acts

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DUTIES ACT 2008 - SECT 51

51 .         Dutiable transaction referred to in s. 49, duty paid on to be credited

                If —

            (a)         a transaction record for a dutiable transaction referred to in section 49 for option property is duty endorsed (the first dutiable transaction ); and

            (b)         as a result of the put option, or the assigned call 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.



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