Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A person who
acquires an interest by way of an acquisition to which this section applies
shall, within 2 months after the acquisition, lodge a statement with the
Commissioner in respect of the acquisition.
Penalty: $20 000.
(2) A dutiable
statement must be prepared in an approved form.
(3) Subject to
subsection (8), this section applies to any of the following —
(a) the
acquisition of beneficial ownership of an estate or interest in —
(i)
freehold land, whether or not registered under the
Transfer of Land Act 1893 ;
(ii)
a Crown lease registered under the Transfer of Land
Act 1893 ; or
(iii)
a mining tenement registered under the Mining
Act 1978 ,
or any buildings on,
or fixtures annexed to, or to buildings on, any such land, lease or tenement
if the land, lease or tenement is situated in Western Australia;
(b) the
acquisition of beneficial ownership of chattels (as defined in
section 70) and other property (as defined in section 70);
(c) the
acquisition of beneficial ownership of chattels (as defined in
section 70) acquired as part of a series of acquisitions or transactions
relating to chattels and to other property (as defined in section 70) at
least one of which changes, or is or includes an agreement to change , the
beneficial ownership of the other property;
(d) the
acquisition of a business asset (as defined in section 74C) of a business
in circumstances in which section 74C applies.
(4) A merger of a
corporation ( Company A ) with and into another corporation ( Company B ) in
circumstances where neither subsection (5) nor subsection (6)
applies is taken to effect an acquisition by Company B of the beneficial
ownership of the property of Company A, and this section applies to that
acquisition.
(5) A merger of
corporations (the merging corporations ) in circumstances where another
corporation ( Company C ) results as a consequence of the merger is taken to
effect an acquisition by Company C of the beneficial ownership of the property
of the merging corporations, and this section applies to that acquisition.
(6) A merger of
corporations (the merging corporations ) with and into each other in
circumstances where each of the merging corporations continues in existence is
taken to effect an acquisition by the merging corporations, jointly, of the
beneficial ownership of 50% (in value) of the property of the merging
corporations, and this section applies to that acquisition.
(7) Where —
(a)
section 73F applies to a transaction relating to a business licence; and
(b) the
business licence is of a kind prescribed for the purposes of this section,
the transaction is
taken to be an acquisition to which this section applies.
(8) This section does
not apply to —
(a) an
acquisition effected by an instrument that is —
(i)
chargeable with duty under item 4 or 6 of the Second
Schedule; or
(ii)
exempt from duty;
or
(b) an
acquisition evidenced by an instrument if the instrument is chargeable with
duty under item 4 of the Second Schedule; or
(c) an
acquisition evidenced by an instrument which, if the acquisition were effected
by that instrument (irrespective of whether it is practicable or possible to
do so), would be an acquisition effected by an instrument that is —
(i)
exempt from duty; or
(ii)
chargeable with duty under item 6 of the Second
Schedule;
or
(d) an
acquisition which, if it were effected by an instrument (irrespective of
whether it is practicable or possible to do so), would be effected by an
instrument that is —
(i)
exempt from duty; or
(ii)
chargeable with duty under item 6 of the Second
Schedule;
or
(e) an
acquisition relating to chattels and other property as referred to in
subsection (3)(b) unless this section would have applied to the
acquisition if it had only related to the other property; or
(f) a
transaction relating to chattels as referred to in subsection (3)(c)
unless at least one of the transactions in the series relates to other
property (as defined in section 70) and is —
(i)
dutiable (as defined in section 70); or
(ii)
a transaction to which subsection (1) applies;
or
(g) the
acquisition of beneficial ownership of property of a bankrupt under
section 58 of the Bankruptcy Act 1966 of the Commonwealth; or
(h) an
acquisition that occurs on or after 1 July 2008.
(9) A dutiable
statement lodged under subsection (1) is taken to be an instrument of
conveyance of property and is chargeable with duty accordingly.
(10) Each person from
whom another person has made an acquisition to which this section applies
shall, within 2 months after the acquisition is made, notify the
Commissioner in an approved form that the acquisition has been made.
Penalty: $20 000.
(11) Nothing in this
section prevents the joint making of a notification under subsection (10)
in respect of an acquisition by any 2 or more parties to the acquisition who
are required to make the notification.
(12) The requirement
to lodge a dutiable statement under subsection (1) or give notification
under subsection (10) ceases to apply if an instrument that evidences the
acquisition and is chargeable with ad valorem duty is executed at any time
after the acquisition was made, but nothing in this subsection affects the
liability of a person for an offence against subsection (1) or (10)
committed before the instrument was executed.
(13) Where
subsection (12) has effect, the instrument referred to in that subsection
is to be regarded, for the purposes of sections 16(5) and 17A, as having
been first executed on the day on which the acquisition was made.
(14) If an instrument
is executed as referred to in subsection (12) after a dutiable statement
has been lodged under subsection (1), subsection (9) ceases to apply
to the dutiable statement unless duty has already been paid in respect of it.
(15) If duty has
already been paid as mentioned in subsection (14), the instrument is not
chargeable with ad valorem duty but the Commissioner, on being requested to do
so, is to endorse on the instrument the duty paid.
[Section 31B inserted by No. 66 of 2003
s. 13; amended by No. 31 of 2006 s. 4; No. 12 of 2008
s. 6.]