Western Australian Consolidated Acts

DUTIES ACT 2008 - SECT 147

147 .         Concessional rates for transactions referred to in Stamp Act 1921 s. 75AE

        (1)         A dutiable transaction is a concessional transaction for the purposes of this section if the instrument effecting or evidencing it would have been chargeable with duty under the Stamp Act 1921 Second Schedule item 4(5), if it had been first executed before 1 July 2008.

        (2)         Duty is chargeable on a concessional transaction at the applicable concessional rate of duty.

        (3)         If a dutiable transaction is, or is treated as, a concessional transaction for the purposes of this section and for the purposes of Division 4A, the taxpayer may choose whether this Division or Division 4A is to apply and the Commissioner, with the consent or at the request of the taxpayer, may —

            (a)         treat an application for assessment or reassessment under this Division as an application for assessment or reassessment under Division 4A, in which case this Division no longer applies; or

            (b)         treat an application for assessment or reassessment under Division 4A as an application for assessment or reassessment under this Division, in which case Division 4A no longer applies.

        [Section 147 amended by No. 30 of 2008 s. 27.]