Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Subject to
subsection (2), where there is a transaction —
(a) by
which —
(i)
land situated in Western Australia;
(ii)
buildings on land situated in Western Australia; or
(iii)
fixtures annexed to, or to buildings on, land situated in
Western Australia,
is or are leased;
(b) in
respect of which there exists a written offer to lease, or a written
acceptance of an offer to lease, that land or those buildings or fixtures; and
(c)
which is not effected or evidenced by an instrument chargeable with ad valorem
duty under item 12 of the Second Schedule,
the lessee of the
land, buildings or fixtures shall, within 2 months after entering into
the transaction, lodge a statement with the Commissioner in respect of the
transaction.
Penalty: $20 000.
(2)
Subsection (1) does not apply to a lessee unless, had an instrument
effecting or evidencing the transaction been executed, the lessee would have
been liable to pay ad valorem duty under item 12 of the Second Schedule
in respect of the transaction.
(2a)
Subsection (1) does not apply to a lessee if the transaction occurs on or
after 1 July 2008.
(3) A dutiable
statement shall be prepared in an approved form.
(4) A dutiable
statement lodged under subsection (1) is taken to be a lease and is
chargeable with duty accordingly.
(5) Each party to a
transaction described in subsection (1), except the person required to
lodge the dutiable statement, shall, within 2 months after entering into
the transaction, notify the Commissioner in an approved form that the
transaction has been entered into.
Penalty: $20 000.
(6)
Subsection (5) does not apply to a party unless, had an instrument
effecting or evidencing the transaction been executed, the lessee would have
been liable to pay ad valorem duty under item 12 of the Second Schedule
in respect of the transaction.
(7) Nothing in this
section prevents the joint making of a notification under subsection (5)
in respect of a transaction by any 2 or more parties to the transaction who
are required to make the notification.
(8) The requirement to
lodge a dutiable statement under subsection (1) or give notification
under subsection (5) ceases to apply if an instrument that evidences the
transaction and is chargeable with ad valorem duty under item 12 of the
Second Schedule is executed at any time after the transaction was entered
into, but nothing in this subsection affects the liability of a person for an
offence against subsection (1) or (5) committed before the instrument was
executed.
(9) Where
subsection (8) has effect, the instrument referred to in that subsection
is to be regarded, for the purposes of sections 16(5) and 17A, as
having been first executed on the day on which the transaction occurred.
(10) If an instrument
is executed as referred to in subsection (8) after a dutiable statement
has been lodged under subsection (1), subsection (4) ceases to apply
to the dutiable statement unless duty has already been paid in respect of it.
(11) If duty has
already been paid as mentioned in subsection (10), the instrument is not
chargeable with ad valorem duty but the Commissioner, on being requested to do
so, is to endorse on the instrument the duty paid.
(12) Regulations may
exempt from the operation of subsections (1) and (5) any transactions
belonging to a class specified in those regulations.
[Section 77A inserted by No. 66 of 2003
s. 76; amended by No 12 of 2008 s. 21.]