Western Australian Numbered Acts

DUTIES ACT 2008 (NO. 11 OF 2008) - SECT 157

157 .         Value of land of linked entity

        (1)         This section applies where a linked entity is entitled to land in Western Australia and it is necessary to determine the value of that entitlement for the purposes of section 155.

        (2)         The value of the entitlement is an amount equal to the same percentage of the unencumbered value of the land as the percentage of the main entity’s interest in the linked entity.

        (3)         In the case of a linked entity other than one that is immediately below the main entity in the ownership chain, the percentage of the main entity’s interest in the linked entity is determined by multiplying the percentage of the main entity’s interest in the entity immediately below it in the ownership chain by the percentage of the interest that each entity in the ownership chain between the main entity and the linked entity concerned has in the entity immediately below it in the ownership chain.

        (4)         In this section, a reference to an interest in an entity is, if the entity is the trustee of a discretionary trust, a reference to being a potential beneficiary under the trust.