Western Australian Consolidated Acts Western Australian Consolidated Acts (1) In this section
and sections 63AH, 63AI and 63AJ —
aggregated dispositions means dispositions
that —
(a)
include a disposition referred to in subsection (3)(a) (the transitional
disposition ); and
(b)
under this section together form substantially one disposition;
private unit trust scheme has the meaning given in
section 63(2).
(2) Subject to
subsection (3), if, as a result of the disposition of a unit, a unit
trust scheme becomes a private unit trust scheme, the unit trust scheme is
taken to have become a private unit trust scheme immediately before that
disposition.
(3) If —
(a) as a
result of the disposition of a unit, a unit trust scheme becomes a private
unit trust scheme; and
(b) that
disposition is one of 2 or more dispositions of units in the unit trust
scheme that together form substantially one disposition,
the unit trust scheme
is taken to have become a private unit trust scheme immediately before the
first of those dispositions.
(4) For the purposes
of subsection (3), dispositions of units in a unit trust scheme are
together taken to form substantially one disposition if those dispositions are
made in response to —
(a) one
offer made or one arrangement entered into; or
(b)
offers made or arrangements entered into within 12 months of each other
by a person or by a person and a related person.
(5) For the purposes
of subsection (4), a person and another person are related if they are
related as provided in section 63(5).
(6) If —
(a) the
aggregated dispositions are made in response to 2 or more offers made or
arrangements entered into; and
(b) the
Commissioner is satisfied that a disposition that would otherwise form part of
the aggregated dispositions is not made for a common purpose,
the Commissioner is to
treat that disposition as not forming part of the aggregated dispositions.
(7) Subject to
subsection (10), duty is chargeable under section 73D in respect of
the dispositions that comprise —
(a) the
transitional disposition; and
(b) any
of the aggregated dispositions made before the transitional disposition is
made,
as if those
dispositions together formed one disposition made at the time the transitional
disposition is made.
(8) If any disposition
forming part of the aggregated dispositions is made after the transitional
disposition is made, duty is chargeable under section 73D in respect of
all the aggregated dispositions as if they together formed one disposition
made at the time the last of the aggregated dispositions is made.
(9) The amount of duty
payable under subsection (8) is to be reduced by the amount of any duty
paid under subsection (7).
(10) A unit trustee
liable to pay duty under both subsections (7) and (8) may elect to
pay duty solely under subsection (8) by lodging with the Commissioner a
notice, in an approved form, within 2 months after the transitional
disposition is made.
(11) For the purposes
of this section, if the disposition of a unit is not made within the period of
3 months after the unit holder ceases to be the beneficial owner of the
unit, the disposition of the unit is taken to have been made on the expiry of
that period, and the Commissioner may create a memorandum of the disposition
for the purposes of section 20 of the Taxation Administration
Act 2003 .
[Section 63AG inserted by No. 66 of 2003
s. 25(1).]