Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Subject to
subsection (2), every conveyance or transfer or instrument chargeable as
a conveyance operating as a voluntary disposition inter vivos shall be
chargeable with duty under item 19 of the Second Schedule in respect of
the unencumbered value of the property disposed of.
(2) Notwithstanding
subsection (1), every conveyance or transfer, or instrument chargeable as
a conveyance, that confers a benefit on the person to whom the property is
conveyed or transferred because the unencumbered value of the property exceeds
the consideration payable in respect of that property, or because of other
circumstances, shall be chargeable with duty under item 4 of the Second
Schedule as if that unencumbered value were the consideration paid.
(3) A conveyance or
transfer —
(a) for
effectuating the appointment of a new trustee or the retirement of a trustee,
whether the trust is expressed or implied;
(b) made
to a beneficiary by a trustee or by another person in a fiduciary capacity,
except a discretionary trustee or a unit trustee, under any trust whether
express or implied;
(c) made
to a beneficiary by a discretionary trustee under any trust, whether express
or implied, otherwise than in the exercise of any power of appointment;
(d) made
by a discretionary trustee, in the exercise of a power of appointment over the
property conveyed or transferred, to a beneficiary who is an individual for
his own use and benefit, if —
(i)
at the time when the discretionary trustee acquired the
property conveyed or transferred the beneficiary was named or described in the
instrument which created the power of appointment as a beneficiary or as a
member of a class of beneficiaries in whose favour the discretionary trustee
was empowered by that instrument to appoint the property; and
(ii)
evidence of the acquisition by the discretionary trustee,
as such trustee, of the property conveyed or transferred is produced to the
Commissioner with that conveyance or transfer;
(e) made
to the holder of a unit in a unit trust scheme by a unit trustee
if —
(i)
evidence of the acquisition by the unit trustee, as
trustee of that unit trust scheme, of the property conveyed or transferred is
produced to the Commissioner with that conveyance or transfer; and
(ii)
the Commissioner is satisfied that —
(I) the conveyance or transfer has the
effect of reducing the rights of the holder of the unit in respect of the
property held by the unit trustee to the extent of the property, or the value
of the property, conveyed or transferred; and
(II) the conveyance or
transfer does not have the effect of varying, abrogating, or altering the
rights of the holder or holders of other units under the unit trust scheme in
respect of the remaining property held by the unit trustee;
or
(f) not
otherwise coming within this subsection but which the Commissioner is
satisfied —
(i)
does not pass a beneficial interest in the property
conveyed or transferred;
(ii)
is not made in contemplation of the passing of a
beneficial interest therein; and
(iii)
is not part of, or made pursuant to, a scheme whereby any
beneficial interest in the property conveyed or transferred, whether vested or
contingent, has passed or will or may pass,
shall not be charged
with duty under this section.
[Section 75 inserted by No. 81 of 1984
s. 22; amended by No. 33 of 1987 s. 21; No. 100 of 1987
s. 4; No. 39 of 1994 s. 14 and 21; No. 20 of 1996
s. 25; No. 13 of 1997 s. 42; No. 2 of 2003 s. 60;
No. 66 of 2003 s. 38.]