Western Australian Consolidated Acts

LAND TAX ASSESSMENT ACT 2002 - SECT 23A

23A .         Residence owned by executor etc., exemption for if beneficiary in will has right to future ownership and is resident

        (1)         Private residential property is exempt for an assessment year if at midnight on 30 June in the previous financial year —

            (a)         the property is owned by the executor or administrator of an individual’s estate; and

            (b)         an individual identified in the will (the beneficiary ) is entitled under the will to ownership of all or part of the property at a fixed or ascertainable future time; and

            (c)         the beneficiary uses the property as his or her primary residence.

        (2)         However, if the beneficiary’s future entitlement is to ownership of part only of the property, then the exemption applies to the proportion of the property to which the beneficiary will become entitled.

        (3)         If —

            (a)         land is exempt under this section for a financial year; and

            (b)         at midnight on 30 June in that financial year the beneficiary is not using the property as his or her primary residence,

                the executor or administrator must notify the Commissioner to that effect within 3 months after that 30 June.

        Penalty: $5 000.

        [Section 23A inserted by No. 30 of 2008 s. 13.]