(1) Any of the
following is "new dutiable property” —
(a) land
in Western Australia;
(b) the
following rights —
(i)
an option to acquire dutiable property, unless the option
is part of a simultaneous put and call option over dutiable property;
(ii)
a right to acquire dutiable property;
(iii)
any other right prescribed for the purposes of this
subsection;
(c) in
section 81(4) and (5), the following Western Australian
business assets —
(i)
intellectual property;
(ii)
a restraint of trade arrangement;
(iii)
a business identity.
(2) The following are
not "new dutiable property” —
(a) a
security interest in dutiable property;
(b) a
partner’s interest in a partnership;
(c) a
lease if no consideration is paid, or agreed to be paid, for the grant of the
lease;
(d) a
mining tenement;
(e) a
licence under the Petroleum Pipelines Act 1969 ;
(f) a
licence, or a water entitlement under a licence, under the Rights in Water and
Irrigation Act 1914 section 5C;
(g) a
profit à prendre created under a timber sharefarming agreement under
the Conservation and Land Management Act 1984 or the
Forest Products Act 2000 , unless a profit à prendre had been
previously created in respect of a crop of trees to which the agreement
applies;
(h) a
plantation interest, created under an agreement under the Tree Plantation
Agreements Act 2003 , unless the interest had been previously created in
respect of a plantation to which the agreement applies;
(i)
any other dutiable property prescribed as excluded
property for the purposes of this section.