B & B (No.2)

The Full Court of the Supreme Court of Western Australia considered the dispute between B & B (No.2) and the Commissioner of State Revenue. The core of the disagreement concerned the Commissioner's assessment of stamp duty on a transfer of property. B & B (No.2) argued that the transfer was exempt from stamp duty under specific provisions of the *Stamp Act 1921* (WA).

The central legal issue before the Court was whether the transfer of property from a trustee to a beneficiary, following the termination of a trust, qualified for an exemption from stamp duty. Specifically, the Court had to determine if the transaction fell within the ambit of the exemption for transfers made in favour of a beneficiary upon the dissolution of a trust, or if it was otherwise dutiable as a dutiable transaction.

The Court's reasoning focused on the interpretation of the relevant provisions of the *Stamp Act 1921* (WA) and the nature of the transfer. It was held that the transfer, while occurring upon the termination of the trust, was not a simple distribution of trust property to a beneficiary in the manner contemplated by the exemption. Instead, the Court found that the transaction constituted a dutiable transaction because it involved the vesting of legal title in the beneficiary, which was a distinct event attracting duty. The Court applied established principles of statutory interpretation, emphasising the need to give effect to the plain meaning of the legislative provisions.

Consequently, the Court dismissed the appeal, upholding the Commissioner's assessment of stamp duty.