Western Australian Consolidated Acts

STAMP ACT 1921 - SECT 75AH

75AH .         Further transfer to person who was first home owner

        (1)         An expression used in this section that is defined in section 75AG, or given a meaning under that section, has the same meaning in this section as it has in that section.

        (2)         Subject to subsection (6), this section applies when —

            (a)         duty was chargeable under section 75AG on an instrument of transfer of property referred to in the Second Schedule item 4(2) or (3) and executed on or after 1 July 2004 (the first instrument ); and

            (b)         before 1 July 2008, a transferee in relation to the first instrument —

                  (i)         executes another instrument of transfer of property (the further instrument ) which evidences the acquisition of a further interest in the property from a person excluded from the operation of section 16(1) of the FHOG Act; and

                  (ii)         is liable to pay duty on the further instrument.

        (3)         When this section applies —

            (a)         duty is chargeable on the further instrument at the rate at which it was chargeable on the first instrument, using the same thresholds that applied when duty was charged on the first instrument; and

            (b)         irrespective of the value of the property at the time of the execution of the further instrument and the consideration paid in respect of the further instrument, the amount or value of the consideration on which duty is chargeable on the further instrument is the same as the higher of —

                  (i)         the amount or value of the consideration on which duty was charged on the first instrument; or

                  (ii)         the unencumbered value of the whole of the property at the time of execution of the first instrument;

                and

            (c)         the assessment of the duty payable on the further instrument is to be made on the amount or value referred to in paragraph (b), but —

                  (i)         the portion of duty assessed in relation to the transferee is to bear the same proportion to the whole of the duty assessed as the interest that would be held by the transferee after the execution and registration of the further instrument bears to the whole of the property; and

                  (ii)         the further instrument is exempt from the remaining portion of the duty that would, but for this subparagraph, be payable;

                and

            (d)         the amount of duty payable is to be reduced by the amount of the duty paid by the transferee on the first instrument and any other further instrument on which duty has been paid.

        (4)         Section 75AG(2), (3), (5), (6) and (7) applies, with necessary changes, in respect of an application under this section.

        (5)         The application may only be made within the period ending 12 months after the execution of the further instrument.

        (6)         If a transferee is required to repay an amount under section 21 or 51 of the FHOG Act in relation to the first instrument or a further instrument, or would be required to repay an amount if a first home owner grant had been paid to the transferee, duty on the further instrument is not, or is no longer, (as the case requires) chargeable under this section.

        (7)         If any transferee in relation to the further instrument was not a transferee in relation to the first instrument, duty on the further instrument is not chargeable under this section.

        (8)         Despite section 17 of the Administration Act, the Commissioner must make any reassessment necessary to give effect to this section.

        [Section 75AH   ³ inserted by No. 31 of 2006 s. 6; amended by No. 12 of 2008 s. 13.]

[ 75B.         Deleted by No. 48 of 1996 s. 41.]