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ARTICLE · 18 MARCH 2019

Transfer duty changes on the horizon in WA

HHG Legal Group
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If these two new bills are passed in their present form, it will transform the duties landscape in Western Australia.

AustraliaTax
Modiesha Stephens
Modiesha Stephens
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There are two Bills before this State's Legislative Assembly which will have significant implications for the taxation of transactions in Western Australia.  The two Bills are the Revenue Laws Amendment Bill 2018 (Revenue Bill) and its accompanying Taxation Administration Bill 2018 (Administration Bill). If these Bills are passed in their current form, they will enact the "most comprehensive changes to the Duties Act 2008 since it replaced the Stamp Act 1921 on 1 July 2008."1

Landholder Duty

One of the most significant amendments will be to the Landholder Duty provisions in the Duties Act 2008 (Duties Act). Landholder duty applies to certain acquisitions (called "relevant acquisitions") in a landholder (being a company or unit trust, entitled to land in Western Australia, of $2 million or more). Duty is assessed on the value of land and chattels held by the landholder (and any linked entities) in proportion to the interest being acquired.

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