Stamp Amendment Act 2003 (WA)

Western Australia

Stamp Amendment Act 2003

Western Australia

Stamp Amendment Act 2003

CONTENTS

1.	Short title	1
2.	Commencement	2
3.	The Act amended	2
4.	Sections 2A and 3 repealed	2
5.	Section 4 amended	2
6.	Section 4A amended	4
7.	Part II repealed (sections 5 to 15B)	4
8.	Section 16 amended	4
9.	Section 17 replaced	4

17.	Liability to pay duty	4
17A.	Time for payment of duty	5
17B.	Requirement to lodge instrument	5
17C.	Instrument to be endorsed when duty paid
etc.	6

10.	Section 18 amended	7
11.	Section 19 amended	7
12.	Sections 20, 21 and 23 replaced	7

20. Reduction of duty if matter not carried into

effect

13.	Section 26 amended	10
14.	Section 27 amended	11
15.	Section 28 amended	12
16.	Section 29 amended	13
17.	Section 30 amended	15
18.	Sections 31, 31AA, 31AB, 31AC and 31A
repealed	16
19.	Section 31B amended	16
20.	Section 31C amended	18
21.	Section 31D repealed	19

Stamp Amendment Act 2003

Contents

22.

Sections 32 to 35 replaced

33.	Valuation of land or other property	19
34.	Duplicates and counterparts	21
35.	Unlodged transfers — independent
person’s obligations	21

23.	Section 36 amended	22
24.	Sections 37 to 39A replaced	23

38.

Instruments held in escrow

25.	Section 49A amended	23
26.	Section 50 amended	23
27.	Section 50A repealed	23
28.	Section 50B amended	24
29.	Section 50D amended	24
30.	Section 52 repealed	24
31.	Heading deleted	24
32.	Section 63 amended	24
33.	Section 63AA amended	24
34.	Section 63AB amended	25
35.	Section 63AC amended	25
36.	Section 63AD amended	26
37.	Section 63AE amended	26
38.	Section 63AF amended	26
39.	Section 63A amended	27
40.	Section 65 amended	27
41.	Section 66 amended	27
42.	Section 67 amended	27
43.	Section 69 amended	27
44.	Section 70 amended	28
45.	Section 71 amended	28
46.	Heading deleted	28
47.	Section 72 amended	28
48.	Heading deleted	29
49.	Section 73 amended	29
50.	Section 73A amended	29
51.	Section 73AA amended	30
52.	Section 73B amended	31
53.	Section 73C amended	32
54.	Section 73D amended	32
55.	Section 73DA amended	34
56.	Section 73E amended	34
57.	Section 73F amended	35

Stamp Amendment Act 2003

Contents

58.	Section 74 amended	35
59.	Section 74A amended	35
60.	Section 75 amended	36
61.	Sections 75A and 75AA replaced	36

75A.

Power to exempt instruments made for

charitable or similar purposes

62.	Section 75AB amended	37
63.	Section 75ABA amended	37
64.	Section 75AE replaced	37

75AE.

Concessional rates for certain residential

or business property

65.	Section 75AF amended	39
66.	Section 75AG replaced	39

75AG.

Reduction of duty or refund for first home

owner

67.	Section 75C amended	44
68.	Section 75D amended	44
69.	Section 75E amended	45
70.	Section 75F replaced	46

75F.

Exemption of duty for farming property

71.	Section 75G amended	46
72.	Section 75H replaced	47

75H.

Application for exemption

73.	Section 75HA amended	47
74.	Section 75I replaced	50

75I.

Part IIIBA companies

75.	Section 75J amended	52
76.	Section 75JA amended	52
77.	Section 75JB amended	53
78.	Section 75JBA amended	54
79.	Section 75JC amended	54
80.	Section 75JD amended	55
81.	Section 75JDA amended	56
82.	Section 75JE amended	56
83.	Section 75JF amended	57
84.	Section 75JG amended	59
85.	Section 76 amended	60
86.	Sections 76A to 76AF replaced	61

76A.	Relevant acquisitions by trustees	61
76AA.	Assessment in the absence of a dutiable
statement	62

87.	Division heading amended	63
88.	Section 76AG amended	63

Stamp Amendment Act 2003

Contents

89.	Section 76AH amended	65
90.	Section 76AI amended	66
91.	Section 76AL amended	67
92.	Section 76AM amended	67
93.	Division heading amended	67
94.	Section 76AN amended	68
95.	Section 76AO amended	69
96.	Section 76AP amended	71
97.	Section 76AS amended	71
98.	Section 76AT repealed	71
99.	Sections 76AU to 76AY replaced	72

76AU.

Reassessment where deeming provision

applied

100.	Part IIIC replaced (sections 76B to 76CB)	73
Part IIIC — Vehicle licences

76B.	Interpretation in Part IIIC	73
76C.	Non-beneficial change of ownership	76
76D.	Duty on the grant or transfer of a vehicle
licence	78
76E.	Determination of value and assessment of
duty	81
76F.	Payment of duty	81
76G.	Applicant’s statement of value in
application	82
76H.	Seller’s obligation to notify purchase price	82
76I.	Use of dealer registered vehicle for other
purposes	83
76J.	Use of specialised equipment on another
vehicle	84
76K.	Failure to apply for transfer of licence	85
76L.	Powers of Director General and
Commissioner	85
76M.	Duty to be remitted to Commissioner	85

101.	Section 77 amended	86
102.	Section 78 amended	86
103.	Section 79 amended	86
104.	Section 80A amended	87
105.	Section 83 amended	87
106.	Section 84 amended	88
107.	Section 87 amended	90
108.	Section 88 amended	90
109.	Section 88A amended	91
110.	Section 90A amended	91
111.	Section 92 amended	91

Stamp Amendment Act 2003

Contents

112.

Section 92A replaced

92A.

Dutiable statement required if policy

issued outside Western Australia

113.	Section 92AA repealed	92
114.	Section 92B amended	93
115.	Section 94 amended	93
116.	Section 95 amended	95
117.	Section 95A repealed	95
118.	Section 96 amended	95
119.	Section 97 repealed	95
120.	Part IVA replaced (sections 112AB to 112FU)	95
Part IV — Unlisted WA securities

100.	Interpretation	95
101.	Share buy-back	96
102.	Securities situated in Western Australia	96
103.	Prohibition on registration of unstamped
transfer	97
104.	Registration of an overseas transfer	98
105.	Return of overseas transfers and payment
of duty	99
106.	Valuing an unlisted WA security	99
107.	Retention of instruments of transfer	100

121.	Section 112HA amended	100
122.	Section 112I amended	101
123.	Section 112J amended	101
124.	Section 112K amended	102
125.	Section 112KA amended	104
126.	Section 112L amended	104
127.	Section 112N amended	105
128.	Section 112O amended	105
129.	Section 112P amended	106
130.	Section 112Q amended	107
131.	Section 112R amended	107
132.	Section 112UA amended	107
133.	Section 112UB amended	108
134.	Section 112UC amended	108
135.	Section 112UD amended	108
136.	Section 112UE amended	109
137.	Sections 112V to 118 replaced	109

113. Commissioner may impound unstamped

documents

109

114.

Commissioner may destroy instruments

109

138.

Section 119 amended

110

Stamp Amendment Act 2003

Contents

139.

Section 120 replaced

110

120.

Regulations

110

140.	First Schedule repealed	110
141.	Second Schedule amended	110
142.	Third Schedule amended	112

Western Australia

Stamp Amendment Act 2003

No. 2 of 2003

An Act to amend the Stamp Act 1921.

[Assented to 20 March 2003]

The Parliament of Western Australia enacts as follows:

1. Short title

This Act may be cited as the Stamp Amendment Act 2003.

Stamp Amendment Act 2003

s. 2

2. Commencement

This Act comes into operation on the day on which the Taxation

Administration Act 2003 comes into operation.

3. The Act amended

The amendments in this Act are to the Stamp Act 1921*.

[* Reprinted as at 3 August 2001.]

4. Sections 2A and 3 repealed

Sections 2A and 3 are repealed.

5. Section 4 amended

(1)	Section 4 is amended by inserting before subsection (1) the
following subsections —

“

(1aa)

The Taxation Administration Act 2003 is to be read

with this Act as if they formed a single Act.

(1ab)

The Glossary at the end of the Taxation Administration Act 2003 defines or affects the meaning of some of the words and expressions used in this Act and also affects the operation of other provisions.

”.

(2)	Section 4(1) is amended by deleting the definitions listed in the Table to this subsection.

Table of deleted definitions

“adhesive coupon”	“instrument”	“several”
“adhesive stamp”	“overseas transfer”	“stamp”
“Commissioner”	“paper”	“stamped”
“die”	“person”	“the Crown”
“duty”	“record”	“unencumbered

“executed” and

value”

“execution”

Stamp Amendment Act 2003

s. 6

(3)

Section 4(1) is amended by inserting the following definitions in

their respective alphabetical positions —

“

“dutiable statement” means a statement prepared

under section 31B, 31C, 63AE, 75HA, 76AG,

76AN, 92A, 104, 112HA or 112P;

“duty” means duty payable under this Act;

“government body” means an agent or instrumentality

of the State, or an SES organisation as defined in

the Public Sector Management Act 1994;

“instrument” does not include a return;

“interstate duty” means duty of a similar nature to the

duty payable under this Act that is payable in

another State or Territory;

“Part IIIBA statement” means —

(a)	a section 76AG statement; or
(b)	a section 76AN statement;

“section 76AG statement” means a dutiable statement

prepared under section 76AG in relation to which

the Commissioner has not made a determination

under section 76AG(5a);

“section 76AN statement” means a dutiable statement

prepared under section 76AN in relation to which

the Commissioner has not made a determination

under section 76AN(4a);

“stamp”, when used as a verb in relation to an

instrument, means to endorse the instrument in

accordance with section 17C;

“stamp Act” means this Act or the Taxation

Administration Act 2003;

”.

Stamp Amendment Act 2003

s. 6

6. Section 4A amended

Section 4A(1) is amended by deleting “, for the purposes of

this Act,”.

7. Part II repealed (sections 5 to 15B)

Part II is repealed.

8. Section 16 amended

(1)

Section 16(1) is amended by deleting “, subject to this Act,”.

(2)

Section 16(3) is amended by deleting “this Act” and inserting

instead —

“ a stamp Act ”.

9. Section 17 replaced

Section 17 is repealed and the following sections are inserted

instead —

“

17. Liability to pay duty

(1)	The person liable to pay duty on an instrument on
which duty is payable is —

(a)	if a person is specified in the Second Schedule as the person liable to pay the duty on the

instrument — that person;

(b)	if another person is expressly liable under any other provision of a stamp Act to pay the

duty — that other person;

(c)	if the instrument is a dutiable statement and

neither paragraphs (a) nor (b) apply — the

person required to prepare the dutiable

statement; or

(d)

in any other case — the party to the instrument

by whom or on whose behalf it is held.

Stamp Amendment Act 2003

s. 9

(2)	Nothing in this section is to be taken —

(a)	to exonerate any other person from any liability imposed on the person under a stamp Act; or
(b)	to exempt any instrument or matter from any duty to which it is liable under a stamp Act.

(3)	A person who is liable to pay duty is also liable to pay any penalty tax, interest or other amount payable under a stamp Act in connection with the duty.

17A.

Time for payment of duty

(1)	The liability to pay duty on an instrument arises —

(a)	when the instrument is first executed; or
(b)	if the instrument is a dutiable statement, on the occurrence of the transaction or event to which the statement relates.

(2)	The duty is payable within one month after the date of the assessment notice.
(3)	Subsection (2) does not apply in a particular case if a provision of a stamp Act specifies that in that particular case duty is payable at, or within, a different time or period.
(4)	A taxpayer must pay the duty within the time required by subsection (2) or that other provision.
Penalty: $5 000.

17B.

Requirement to lodge instrument

(1)

A person who is, or may be, liable to pay duty on an

instrument must lodge the instrument with the

Commissioner —

(a)	within 2 months after the date on which the instrument was first executed; or
(b)	if the instrument is a dutiable statement —

within 2 months after the occurrence of the

Stamp Amendment Act 2003

s. 9

transaction or event to which the dutiable

statement relates.

Penalty: $5 000.

(2)	Subsection (1) does not apply in a particular case if a provision of a stamp Act specifies that in that particular case the instrument must be lodged at or within a different time or period.

17C.

Instrument to be endorsed when duty paid etc.

(1) When —

(a)	duty is paid on an instrument;
(b)	penalty tax or any other amount payable under a stamp Act in respect of an instrument is paid;
(c)	the payment of duty payable on, or penalty tax or any other amount payable under a stamp Act in respect of, an instrument is waived;
(d)	the Commissioner assesses an instrument as being not chargeable with duty;
(e)	the Commissioner exempts an instrument from duty; or
(f)	the Commissioner allows a reduction of the duty payable on an instrument,

the Commissioner is to endorse the instrument

accordingly.

(2)

An endorsement under subsection (1) must be made in

a prescribed manner.

(3)

An instrument is taken to be endorsed in accordance

with subsection (1) if the Commissioner endorses, in a

prescribed manner, a copy or memorandum of the

instrument under section 20 of the Taxation

Administration Act 2003.

Stamp Amendment Act 2003

s. 10

(4)

The grant or transfer of a licence (as defined in

section 76B) is taken to be endorsed in accordance with

subsection (1) when it is granted or transferred.

(5)

An endorsement on an instrument, or on a copy or

memorandum of an instrument, in a prescribed manner

is prima facie evidence of the matters noted in the

endorsement.

(6)

The Commissioner may, at the request of a party to an instrument specified in the Third Schedule, endorse the instrument as exempt from duty.

”.

10. Section 18 amended

(1)	Section 18(1) is amended by deleting the subsection
designation “(1)”.
(2)	Section 18(2) is repealed.

11. Section 19 amended

Section 19 is amended by deleting “several” and inserting

instead —

“ 2 or more ”.

12. Sections 20, 21 and 23 replaced

Sections 20, 21 and 23 are repealed and the following section is

inserted instead —

“

20. Reduction of duty if matter not carried into effect

(1)

The amount of duty payable on an instrument is

reduced by the amount of the full duty payable in

respect of a matter included in the instrument if the

Commissioner is satisfied that —

(a)	the matter has not been, and will not be, carried into effect;

Stamp Amendment Act 2003

s. 12

(b)	the taxpayer has not received, and will not receive, a benefit in respect of the matter; and
(c)	the reason the matter was not, and will not be, carried into effect is not merely to enable a replacement transaction to be entered into.

(2)	The amount of duty payable on an instrument is reduced in accordance with subsection (3) if the
Commissioner is satisfied that —

(a)	a matter included in an instrument has not been, and will not be, carried into effect;
(b)	the taxpayer has received, or will receive, a benefit in respect of the matter;
(c)	the value of the benefit is less than the full duty payable in respect of the matter; and
(d)	the reason the matter was not, and will not be, carried into effect is not merely to enable a replacement transaction to be entered into.

(3)

The amount of duty payable on the instrument is

reduced by the amount of the difference between the

value of the benefit referred to in subsection (2)(b) and

the amount of the full duty payable in respect of the

matter.

(4)

A taxpayer receives a benefit in respect of a matter

included in an instrument if, as a result of the matter

not being carried into effect, an amount of money, or a

right, property or service, is received —

(a) by the taxpayer; or

(b)	with the consent, or at the direction of, the taxpayer, by an independent person.

Stamp Amendment Act 2003

s. 12

(5)

A taxpayer receives a benefit in respect of a matter

contained in an instrument chargeable as a conveyance

or transfer of property if —

(a)	the instrument provides for or contemplates the conveyance or transfer of the property to an independent person;
(b)	under an agreement, arrangement or understanding between the taxpayer and another party, the property has been or is to be conveyed or transferred to that other party or to another person; or
(c)	the taxpayer obtains exclusive use or control of the property under a term contract (however described), whether or not the contract is for any reason not fully carried into effect.

(6)	Where a taxpayer receives a benefit of the kind described in subsection (5) the value of the benefit is the amount of the full duty payable in respect of the matter.
(7)	For the purpose of calculating the value of a benefit received by a taxpayer in respect of a matter (other than a benefit of the kind described in subsection (5)),
an amount equal to the amount (if any) required to restore the taxpayer to the position the taxpayer would have been in if the matter had not been included in the instrument, is not to be taken into account.
(8)	Subject to section 17 of the Taxation Administration Act 2003, the Commissioner must make any reassessment necessary to give effect to this section.
(9)	In this section —
“full duty”, in relation to a matter, means the amount of duty that would, but for this section, be payable in respect of the matter;

Stamp Amendment Act 2003

s. 13

“independent person”, in relation to a matter, means a

person who is not a party to the instrument that

includes the matter;

“party”, in relation to a matter, means a person who is

a party to the instrument that includes the matter;

“replacement transaction”, in relation to a matter,

means a transaction between the taxpayer and an independent person that is substantially similar in effect to the transaction that was to have been

effected by the instrument that includes the matter.

”.

13. Section 26 amended

(1)	Section 26(1) is amended as follows:

(a)	by deleting “every person who” and inserting instead —

“ a person must not ”;

(b)	in paragraph (a) by deleting “executes” and inserting instead —

“ execute ”;

(c)	in paragraph (b) by deleting “ neglects or omits” and inserting instead —

“ neglect or omit ”;

(d)	at the end of paragraph (b) by deleting the comma and inserting a full stop instead;
(e)	by deleting “commits an offence against this Act.” and

inserting instead —

“ Penalty: $20 000. ”.

(2)	Section 26(2) is amended by deleting “duly”.
(3)	Section 26(3) is amended as follows:

(a)	by deleting “duly”;

Stamp Amendment Act 2003

s. 14

(b)	by deleting all the words from and including “express

his opinion” to the end of the subsection and inserting

instead —

“

reassess the amount of duty payable on the instrument.

Penalty: $20 000.

”.

14. Section 27 amended

(1)	Section 27(1) is amended as follows:

(a)	by deleting “this Act” and inserting instead —

“ a stamp Act ”;

(b)	by deleting “duly”.

(2)	Section 27(2) is amended as follows:

(a)	in paragraph (b)(i) by deleting “statement is required to be prepared and lodged” and inserting instead —

“ dutiable statement is required to be prepared ”;

(b)	by deleting “statement has been prepared and lodged”

and inserting instead —

“ dutiable statement has been prepared ”;

(c)	by deleting “statement” in the last place where it occurs

and inserting instead —

“ dutiable statement ”.

(3)	Section 27(3) is amended as follows:

(a)	by deleting “statement is required to be prepared and

lodged” and inserting instead —

“ dutiable statement is required to be prepared ”;

(b)	by deleting “statement” in the 3 other places where it

occurs and inserting instead —

“ dutiable statement ”.

Stamp Amendment Act 2003

s. 15

15. Section 28 amended

(1)	Section 28(1) is amended as follows:

(a)	in paragraph (a) by deleting “duly” in both places where

it occurs;

(b)	in paragraph (b) —

(i) by deleting “statement has been prepared and

lodged” and inserting instead —

“ dutiable statement has been prepared ”;

(ii) by inserting after “with which the” —

“ dutiable ”;

(c)	by inserting after the subsection — “ Penalty: $20 000. ”.

(2)	Section 28(3) is amended by deleting “duly”.
(3)	Section 28(4) and (5) are repealed and the following subsections
are inserted instead —

“

(4)

If a caveat relates to an instrument which is liable to

duty or a document referred to in section 27(2) the

registrar must reject the caveat unless —

(a)	the instrument or the dutiable statement relating to the document has been stamped; or
(b)	the registrar is satisfied, on evidence provided by the person lodging the caveat, that the instrument or the dutiable statement relating to the document, has been lodged with the Commissioner for assessment.

Penalty: $20 000.

Stamp Amendment Act 2003

s. 16

(5)

If a caveat relates to an instrument that is not liable to

duty the registrar may reject it unless when it is lodged

it is accompanied by a statutory declaration —

(a)	stating that the instrument is not liable to duty; and
(b)	setting out why the instrument is not liable to duty (including reference to any relevant provisions of a stamp Act).

(6)	In subsections (4) and (5) —
“caveat” means a caveat lodged under —

(a)	Part V of the Transfer of Land Act 1893; or
(b)	the Mining Act 1978;

“registrar” means the Registrar of Titles or a mining

registrar within the meaning of the Mining

Act 1978 (as the case requires).

”.

16. Section 29 amended

(1)	Section 29(1) is amended as follows:

(a)	by deleting “any omission or insufficiency of the stamp

thereon” and inserting instead —

“

whether, and to what amount, the instrument has been

stamped

”;

(b)	by deleting “statement prepared and lodged” and

inserting instead —

“ dutiable statement required to be prepared ”.

(2)

Section 29(2) is amended by deleting “fine payable on the

stamping of that instrument” and inserting instead —

“ penalty tax payable in respect of the instrument ”.

(3)

Section 29(2a) is amended as follows:

Stamp Amendment Act 2003

s. 16

(a)

by deleting “statement is required to be, but has not

been, lodged under section 31B(1) or 31C(1),” and

inserting instead —

“

dutiable statement is required to be prepared under

section 31B(1) or 31C(1) and either the dutiable

statement has not been prepared or the duty with which

the dutiable statement is chargeable has not been paid,

”;

(b)	by deleting “statement” in the second place where it

occurs and inserting instead —

“ dutiable statement ”;

(c)	by deleting “fine with which the statement is

chargeable” and inserting instead —

“ penalty tax payable in respect of the dutiable statement ”.

(4)	Section 29(3) is amended as follows:

(a)	by deleting “statement” and inserting instead —

“ dutiable statement ”;

(b)	by deleting “fine paid thereon” and inserting instead —

“

penalty tax paid in respect of the instrument or dutiable

statement

”.

(5)	Section 29(4) is repealed and the following subsections are
inserted instead —

“

(4)	On receiving the instrument or dutiable statement the Commissioner is to make an assessment of the duty payable on it, issue an assessment notice, stamp the instrument or dutiable statement and return it to the officer of the court, arbitrator or referee with the assessment notice.

Stamp Amendment Act 2003

s. 17

(5)	Section 23(3) of the Taxation Administration Act 2003 does not apply to an assessment notice referred to in subsection (4).

”.

17. Section 30 amended

(1)	Section 30 is amended as follows:

(a)	by inserting before “In proceedings” the subsection

designation “(1)”;

(b)	in paragraph (a) —

(i) by deleting “duly”;

(ii) by deleting “fine with which the instrument is

chargeable” and inserting instead —

“ penalty tax payable in respect of the instrument ”;

(c)	in paragraph (b) —

(i) by deleting “statement under” and inserting instead —

“ dutiable statement prepared under ”;

(ii) by deleting “fine with which the dutiable

statement is chargeable.” and inserting instead —

“

penalty tax payable in respect of the dutiable

statement.

”.

Stamp Amendment Act 2003

s. 18

(2)	At the end of section 30 the following subsections are
inserted —

“

(2)

On receiving payment under subsection (1) the officer

of the court, arbitrator or referee is to deliver the

instrument or dutiable statement to the Commissioner

together with the duty and any penalty tax paid in

respect of the instrument or dutiable statement.

(3)

On receiving the instrument or dutiable statement the

Commissioner is to make an assessment of the duty

payable on it, issue an assessment notice, stamp the

instrument or dutiable statement and return it to the

officer of the court, arbitrator or referee with the

assessment notice.

(4)

Section 23(3) of the Taxation Administration Act 2003

does not apply to an assessment notice referred to in

subsection (3).

”.

18. Sections 31, 31AA, 31AB, 31AC and 31A repealed

Sections 31, 31AA, 31AB, 31AC and 31A are repealed.

19. Section 31B amended

(1)	Section 31B(1) is amended as follows:

(a)	in paragraphs (a), (b), (c)(i), (ii) and (iii) by deleting

“the State” and inserting instead —

“ Western Australia ”;

(b)	by deleting all the words from and including “within a

period” to the end of the subsection and inserting

instead —

“

prepare a dutiable statement in respect of the

transaction.

Penalty: $20 000.

”.

Stamp Amendment Act 2003

s. 19

(2)	Section 31B(2) is repealed and the following subsections are
inserted instead —

“

(1b)

A dutiable statement must be in an approved form.

(1c)

A dutiable statement prepared under subsection (1) is

taken to be an instrument evidencing the transaction

and is chargeable with duty accordingly.

(2)

Each party to a transaction described in subsection (1),

except the person required to prepare 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.

”.

(3)	Section 31B(2a) is amended as follows:

(a)	by deleting “lodge a statement” and inserting instead —

“ prepare a dutiable statement ”;

(b)	by deleting “subsection (7)” and inserting instead —

“ subsection (1) or (2) ”.

(4)	Section 31B(2b) is amended as follows:

(a)	by deleting “section 20(1)” and inserting instead —

“ section 17A ”;

(b)	by deleting “was entered into” and inserting instead —

“ occurred ”.

(5)	Section 31B(3) is amended by deleting “The Governor may make regulations under section 120(1) exempting” and inserting instead —
“ Regulations may exempt ”.
(6)	Section 31B(4) and (5) are repealed and the following
subsection is inserted instead —

Stamp Amendment Act 2003

s. 20

“

(4)

If interstate duty has been, or in the opinion of the

Commissioner will be, paid in respect of a transaction

to which subsection (1)(c) applies, the amount of duty

payable in respect of the dutiable statement prepared in

respect of the transaction is reduced by the amount of

interstate duty that has been or will be paid.

”.

(7)	Section 31B(7) is repealed.

20. Section 31C amended

(1)

Section 31C(1) is amended by deleting “and lodge a statement

with the Commissioner about the transfer.” and inserting

instead —

“

a dutiable statement in respect of the transfer, but only if the assets are property of a kind that, if there was an instrument effecting or evidencing the transfer, duty

would be chargeable on the instrument.

Penalty: $20 000.

”.

(2)	Section 31C(2) is repealed and the following subsections are
inserted instead —

“

(2)

A dutiable statement must be in an approved form.

(2a)

A dutiable statement prepared under subsection (1) is

taken to be an instrument of transfer of the assets and is

chargeable with duty accordingly.

(2b)	Duty is payable by the receiving body.

”.

(3)	Section 31C(4) is repealed.

Stamp Amendment Act 2003

s. 21

21. Section 31D repealed

Section 31D is repealed.

22. Sections 32 to 35 replaced

Sections 32, 33, 33A, 34, 34A, 34B, 34C and 35 are repealed

and the following sections are inserted instead —

“

33. Valuation of land or other property

(1)	When determining the value of any land or other
property for the purpose of a stamp Act —

(a)	the existence of any overriding power of revocation or reconveyance is to be disregarded;
(b)	the value of an undivided share in the land or other property, whether held jointly or in common, is to be ascertained by multiplying the total value of the land or other property by the share expressed as a fraction; and
(c)	when applying the ordinary principles of

valuation —

(i) it is to be assumed that a hypothetical purchaser would, when negotiating the price of the land or other property, have knowledge of all existing information relating to the land or other property; and

(ii) no account is to be taken of any amount that a hypothetical purchaser would have to expend to reproduce, or otherwise acquire a permanent right of access to and use of, existing information relating to the land or other property.

Stamp Amendment Act 2003

s. 22

(2)

When determining the unencumbered value of any

land or other property for the purposes of a stamp

Act —

(a)	an encumbrance on the land or other property is to be disregarded; and
(b)	an interest, agreement or arrangement (not

being an encumbrance) that —

(i) has the effect of reducing the value of the land or other property; and

(ii) was granted or made on or after 27 December 1996,

is, subject to subsection (3), to be disregarded.

(3)	An interest, agreement or arrangement is not to be
disregarded if, in the Commissioner’s opinion —

(a)	it was not granted or made for the purpose of reducing the value of the land or other property; and
(b)	it was not granted to or made in favour of —

(i) the taxpayer;

(ii) in the case of an instrument chargeable

under item 19 of the Second Schedule —

the person on whom the land or other

property is settled or agreed to be

settled, or to whom the land or other

property is given or agreed to be given,

or for whom it is declared to be held in

trust;

(iii) in the case of a relevant acquisition to which Division 3 of Part IIIBA

applies — the person who acquired the

majority interest or further interest; or

Stamp Amendment Act 2003

s. 22

(iv) a person who is associated with, or related to (within the meaning of section 76), a person referred to in subparagraph (i), (ii) or (iii).

(4) In this section —

“land” includes an estate or interest in —

(a)	freehold land, whether or not registered under the Transfer of Land Act 1893;
(b)	a Crown lease registered under the Transfer of Land Act 1893; or
(c)	a mining tenement registered under the Mining Act 1978,

or any buildings on, or fixtures annexed to, or to

buildings on, any such land, Crown lease or

mining tenement.

34. Duplicates and counterparts

A duplicate or counterpart of a stamped instrument is

chargeable with duty under item 9 of the Second

Schedule.

35. Unlodged transfers — independent person’s

obligations

(1)	This section applies in relation to a transfer of property if the instrument of transfer has not been lodged before the end of the period within which it is required under a Stamp Act to be lodged.
(2)	Where a person who is not a party to the transfer —

(a)	has custody or control of the instrument of transfer; or
(b)	in dealing with the property, acts on the authority of, in reliance on or in pursuance of the instrument of transfer,

Stamp Amendment Act 2003

s. 23

the person must lodge the instrument, or notify the

Commissioner about the instrument, as soon as

practicable after the person becomes aware, or ought

reasonably to have become aware, that the instrument

has not been lodged before the end of the period within

which it is required to be lodged under a Stamp Act.

Penalty: $20 000.

(3)	A notification under subsection (2) must set out, to the extent that the information can be ascertained from the
transfer or is otherwise known to the person —

(a)	the nature of the transfer;
(b)	the names of the parties to the transfer;
(c)	the date on which the transfer was first executed;
(d)	a summary of the principal terms of the transfer (such as the property to which it relates and the consideration paid or payable); and

(e) any prescribed information.

(4) In this section —

“instrument of transfer” means an instrument of

transfer, or a dutiable statement, on which duty is

payable under item 4 of the Second Schedule;

“transfer” includes conveyance.

”.

23. Section 36 amended

Section 36 is amended by deleting “this State” and inserting

instead —

“ Western Australia ”.

Stamp Amendment Act 2003

s. 24

24. Sections 37 to 39A replaced

Sections 37, 38, 39 and 39A are repealed and the following

section is inserted instead —

“

38. Instruments held in escrow

For the purposes of a stamp Act an escrow is taken to

be an instrument duly executed and delivered and is

liable to duty accordingly.

”.

25. Section 49A amended

Section 49A is amended as follows:

(a)	by deleting the subsection designation (1);
(b)	in paragraph (a) by deleting “in writing”;
(c)	by repealing subsection (2).

26. Section 50 amended

(1)	Section 50(1) is repealed and the following subsection is
inserted instead —

“

(1)	A person must not draw, make, issue, accept, endorse, transfer, negotiate, present for payment or pay any bill of exchange or promissory note which is liable to duty and is not stamped.
Penalty: $20 000.

”.

(2)	Section 50(2) is amended by deleting “duly”.
(3)	Section 50(3) and (4) are repealed.

27. Section 50A repealed

Section 50A is repealed.

Stamp Amendment Act 2003

s. 28

28. Section 50B amended

Section 50B(1) and (2) are amended by deleting “duly”.

29. Section 50D amended

Section 50D is amended as follows:

(a)	by deleting the subsection designation (1);
(b)	by deleting “duly” in both places where it occurs;
(c)	by repealing subsections (2), (3) and (4).

30. Section 52 repealed

Section 52 is repealed.

31. Heading deleted

The heading “Conveyances on Sale” immediately before

section 63 is deleted.

32. Section 63 amended

Section 63(4)(a)(i) is amended by deleting “body corporate (as

defined in section 9 of the Corporations Act)” and inserting

instead —

“ corporation ”.

33. Section 63AA amended

(1)	Section 63AA(1) is amended by deleting “a form approved by
the Commissioner” and inserting instead —
“ an approved form ”.
(2)	Section 63AA(4) is amended by deleting “in writing”.
(3)	Section 63AA(5) is amended by deleting “written”.

Stamp Amendment Act 2003

s. 34

(4)	After section 63AA(5) the following subsection is inserted —

“

(6)	If the Commissioner decides not to register a unit trust scheme as a pooled investment trust or an equity trust, the unit trustee may challenge the validity or
correctness of that decision in accordance with Part 4 of the Taxation Administration Act 2003 as if the unit trustee were a taxpayer and the decision were a
decision affecting the trustee’s liability to pay duty.

”.

34. Section 63AB amended

(1)	Section 63AB(8) is amended by deleting “a form approved by
the Commissioner” and inserting instead —
“ an approved form ”.
(2)	Section 63AB(9) is repealed.

35. Section 63AC amended

(1)	Section 63AC(1) is amended by deleting “a form approved by the Commissioner” and inserting instead —
“ an approved form ”.
(2)	Section 63AC(3) is amended by deleting “in writing”.
(3)	Section 63AC(4) is amended by deleting “written”.
(4)	After section 63AC(4) the following subsection is inserted —

“

(5)

If the Commissioner decides not to grant the unit trust

scheme interim registration as a pooled investment

trust or an equity trust, the unit trustee may challenge

the validity or correctness of that decision in

accordance with Part 4 of the Taxation Administration

Act 2003 as if the unit trustee were a taxpayer and the

Stamp Amendment Act 2003

s. 36

decision were a decision affecting the trustee’s liability

to pay duty.

”.

36. Section 63AD amended

Section 63AD(4)(c) and (6)(b) are amended by deleting “in

writing”.

37. Section 63AE amended

(1)	Section 63AE(1) is amended by deleting all of the words from
and including “and lodge” to the end of the subsection and
inserting instead —
“

a dutiable statement.

Penalty: $20 000.

”.

(2)	Section 63AE(2) is amended as follows —

(a)	by deleting “statement shall” and inserting instead —

“ dutiable statement must ”;

(b)	by deleting paragraph (a) and inserting the following

paragraph instead —

“ (a) be in an approved form; ”.

(3)	Section 63AE(3) is repealed.

38. Section 63AF amended

Section 63AF(1) is repealed and the following subsection is

inserted instead —

“

(1)

A dutiable statement prepared under section 63AE is taken to be an instrument effecting or evidencing the transfers and dispositions details of which are included

in the dutiable statement under section 63AE(2)(c) or

(d) and is chargeable with duty accordingly.

Stamp Amendment Act 2003

s. 39

”.

39. Section 63A amended

(1)

Section 63A(1) is amended by inserting after “states that

value,” —

“

then despite section 33 and sections 21 and 22 of the

Taxation Administration Act 2003,

”.

(2)	Section 63A(2) is amended by deleting all the words from and
including “and the Commissioner” to the end of the subsection.

40. Section 65 amended

Section 65(1) is amended by deleting “in accordance with the

provisions of this Act”.

41. Section 66 amended

Section 66 is amended by deleting “in accordance with this Act”

and inserting instead —

“ accordingly ”.

42. Section 67 amended

Section 67 is amended by deleting the subsection

designation “(1)”.

43. Section 69 amended

Section 69(1) is amended as follows:

(a)	in paragraphs (a) and (b) by deleting “in this section called” in each place where it occurs;
(b)	by deleting “several” and inserting instead —

“ 2 or more ”.

Stamp Amendment Act 2003

s. 44

44. Section 70 amended

(1)	Section 70(1) is amended as follows:

(a)	in the definition of “chargeable with duty” in

paragraph (b) by inserting after “12(1) or (3)” —

“ of the Second Schedule ”;

(b)	in the definition of “exempt chattels” —

(i) after paragraph (a) by inserting —

“ or ”;

(ii) in paragraph (b) by deleting “motor”.

(2)

Section 70(3)(a)(ii) is amended by deleting “several” and

inserting instead —

“ 2 or more ”.

45. Section 71 amended

Section 71 is amended by deleting “several” and inserting

instead —

“ 2 or more ”.

46. Heading deleted

The heading “Transfer of mortgages” immediately before

section 72 is deleted.

47. Section 72 amended

(1)	Section 72(2) is amended by deleting “several” and inserting instead —
“ 2 or more ”.
(2)	Section 72(4) is amended by deleting all the words from and
including “and the Commissioner” to the end of the subsection.

Stamp Amendment Act 2003

s. 48

48. Heading deleted

The heading “Documents Treated as Conveyances”

immediately before section 73 is deleted.

49. Section 73 amended

Section 73 is amended as follows:

(a)	by deleting the subsection designation “(1)”;
(b)	by deleting “in this Act otherwise provided” and

inserting instead —

“ otherwise provided by a stamp Act ”.

50. Section 73A amended

(1)	Section 73A(1) is amended as follows:

(a)	by deleting “in this section referred to as”;
(b)	by deleting “in accordance with the provisions of this

Act”;

(c)	by deleting all the words from and including “sum of the amount paid” to the end of the subsection and inserting

instead —

“

sum of —

(a)	the amount paid by way of consideration for the granting of the option; and
(b)	the amount payable in the event of the option being exercised.

”.

(2)	Section 73A(5) is amended by deleting all the words from and
including “the Commissioner shall refund” to the end of the
subsection and inserting instead —
“

then —

Stamp Amendment Act 2003

s. 51

(c)	the duty chargeable on the agreement or the conveyance or transfer (as the case may be) is reduced to the amount of duty that would have been payable if the consideration had been the amount referred to in subsection (1)(a) only; and
(d)	any reconveyance or retransfer referred to in paragraph (b) is chargeable with duty under item 6 of the Second Schedule.

”.

(3)	After section 73A(5) the following subsections are inserted —

“

(5a)

Subject to section 17 of the Taxation Administration

Act 2003, the Commissioner must make any

reassessment necessary to give effect to this section.

(5b)

For the purposes of subsection (5a), section 17 of the

Taxation Administration Act 2003 applies as if the

original assessment had been made —

(a)	when the reconveyance or retransfer referred to in subsection (5)(b)(i) occurred; or
(b)	on the expiry, referred to in subsection (5)(a), of the time within which the option could have been exercised,

whichever is later.

”.

51. Section 73AA amended

(1)	Section 73AA(1)(c) is amended by inserting before
“exercise” —
“ the ”.
(2)	Section 73AA(1)(d) is amended as follows:

(a)	by inserting before “exercise” —

“ the ”;

Stamp Amendment Act 2003

s. 52

(b)	by deleting “a natural person” and inserting instead —

“ an individual ”.

(3)

Section 73AA(1)(f) is amended by deleting “, if the

Commissioner is satisfied that the conveyance or transfer” and

inserting instead —

“ but which the Commissioner is satisfied ”.

52. Section 73B amended

(1)	Section 73B(1) is amended as follows:

(a)	by deleting “in this section referred to as”;
(b)	by deleting “in accordance with the provisions of

this Act”.

(2)	Section 73B(3) is amended as follows:

(a)	by deleting “in this subsection referred to as”;
(b)	by deleting all the words from and including “the

Commissioner shall” to the end of the subsection and

inserting instead —

“

the amount of duty payable on the agreement is

reduced to the amount of duty that would have been

payable if the consideration had been equal to the

amount of the payment or payments paid or due and

payable by the determiner when the determination was

made.

”.

(3)	After section 73B(3) the following subsections are inserted —

“

(4)

Subject to section 17 of the Taxation Administration

Act 2003, the Commissioner must make any

reassessment necessary to give effect to this section.

(5)

For the purposes of subsection (4), section 17 of the

Taxation Administration Act 2003 applies as if the

Stamp Amendment Act 2003

s. 53

original assessment had been made when the

determination was made.

”.

53. Section 73C amended

(1)	Section 73C(3) is amended by deleting all the words from and
including “the Commissioner shall” to the end of the subsection
and inserting instead —
“

the amount of duty payable on the instrument is

reduced to the amount of duty that would have been

payable if the consideration had been equal to the

amount paid or payable in respect of any occasion or

occasions referred to in the instrument that have

occurred before the person exercised the option or

failed to renew the right of option.

”.

(2)	After section 73C(3) the following subsections are inserted —

“

(4)

Subject to section 17 of the Taxation Administration

Act 2003, the Commissioner must make any

reassessment necessary to give effect to this section.

(5)

For the purposes of subsection (4), section 17 of the

Taxation Administration Act 2003 applies as if the

original assessment had been made when the person

exercised the option or failed to renew the right of

option.

”.

54. Section 73D amended

(1)	Section 73D(1) is amended as follows:

(a)	in the definition of “disposition” in paragraph (d) by

inserting after “with respect to” —

“ the ”;

Stamp Amendment Act 2003

s. 55

(b)	after the definition of “transfer” by deleting “and”.

(2)	Section 73D(2) is amended as follows:

(a)	in paragraph (b) by deleting “duly stamped under this Act” and inserting instead —

“ stamped ”;

(b)	by inserting after the subsection —

“ Penalty: $20 000. ”.

(3)	Section 73D(3) is repealed.
(4)	Section 73D(4)(a) is amended by deleting “the State” and inserting instead —
“ Western Australia ”.
(5)	Section 73D(6a) is amended as follows:

(a)	in paragraph (b) by deleting “ad valorem duty has been paid by such a person in another jurisdiction” and

inserting instead —

“ interstate duty has been paid by such a person ”;

(b)	in paragraph (c) by deleting “the State” and inserting instead —

“ Western Australia ”.

(6)

Section 73D(8) is amended by deleting “for not less than 2 years

after the day on which it is delivered to him” and inserting

instead —

“

in accordance with section 87 of the Taxation

Administration Act 2003

”.

(7)	Section 73D(9) is repealed.

Stamp Amendment Act 2003

s. 55

55. Section 73DA amended

(1)	Section 73DA(1) is repealed and the following subsection is
inserted instead —

“

(1)

For the purposes of section 73D(4), a unit trustee who

has a majority interest is a company that is beneficially

entitled to land and chattels (as defined in section 76)

situated in Western Australia is taken to hold an

undivided share in the land and chattels to the extent

provided in subsection (2).

”.

(2)	Section 73DA(2) is amended by deleting “the State” and inserting instead —
“ Western Australia ”.
(3)	Section 73DA(3)(a) is amended by deleting “applies and” and inserting instead —
“ applies or ”.

56. Section 73E amended

(1)	Section 73E(2) is amended as follows:

(a)	by inserting after “Australia as” —

“ a ”;

(b)	in paragraph (b) by deleting “duly stamped under this Act” and inserting instead —

“ stamped ”;

(c)	after the subsection by inserting —

“ Penalty: $20 000. ”.

(2)	Section 73E(3) is repealed.
(3)	Section 73E(9) is amended by deleting “for not less than 2 years
after the day on which the transfer or instrument is delivered to
it” and inserting instead —

Stamp Amendment Act 2003

s. 57

“

in accordance with section 87 of the Taxation

Administration Act 2003

”.

(4)	Section 73E(10) is repealed.

57. Section 73F amended

(1)	Section 73F(1) is amended in the definition of “business licence”, in paragraph (b) by deleting “the State” and inserting
instead —
“ Western Australia ”.
(2)	Section 73F(3) is amended as follows:

(a)	by deleting “For the purposes of this Act, where” and

inserting instead —

“ Where ”;

(b)	by deleting “the State” and inserting instead —

“ Western Australia ”.

(3)

Section 73F(4)(a) and (b) are amended by deleting “the State”

and inserting instead —

“ Western Australia ”.

58. Section 74 amended

(1)	Section 74(3)(c) is amended by deleting “duly”.
(2)	Section 74(4) is amended by deleting all the words from and
including “and the Commissioner” to the end of the subsection.

59. Section 74A amended

(1)	Section 74A(3) is amended as follows:

(a)	after paragraph (d)(i) by inserting —

“ or ”;

(b)	after paragraph (e) by inserting —

Stamp Amendment Act 2003

s. 60

“ and ”.

(2)	Section 74A(4) is amended by inserting after the definition
of “B” —
“ and ”.

60. Section 75 amended

(1)	Section 75(3)(c) is amended by inserting before “exercise” —
“ the ”.
(2)	Section 75(3)(d) is amended as follows:

(a)	by inserting before “exercise” —

“ the ”;

(b)	by deleting “a natural person” and inserting instead —

“ an individual ”.

(3)	Section 75(3)(f) is amended by deleting “if the Commissioner is satisfied that the conveyance or transfer” and inserting
instead —
“ but which the Commissioner is satisfied ”.
(4)	Section 75(4) is repealed.

61. Sections 75A and 75AA replaced

Sections 75A and 75AA are repealed and the following section

is inserted instead —

“

75A.

Power to exempt instruments made for charitable

or similar purposes

The Commissioner may exempt from ad valorem duty

any deed of gift, conveyance, transfer, settlement or

other instrument operating as a voluntary disposition of

property, or any conveyance on the purchase of

property, if the Commissioner is satisfied that it has

Stamp Amendment Act 2003

s. 62

been made for the purposes of a university or for

charitable or similar public purposes.

”.

62. Section 75AB amended

Section 75AB is amended as follows:

(a)	by deleting “When the Commissioner is satisfied that

any instrument” and inserting instead —

“

The Commissioner may exempt from ad valorem duty

any instrument that the Commissioner is satisfied

”;

(b)	by deleting “, he may exempt from ad valorem duty, or

refund any ad valorem duty paid on, that instrument”.

63. Section 75ABA amended

Section 75ABA(1) is amended by deleting “and the instrument

is to be endorsed accordingly”.

64. Section 75AE replaced

Section 75AE is repealed and the following section is inserted

instead —

“

75AE.

Concessional rates for certain residential or

business property

(1)

A conveyance or transfer of residential property or

business property is chargeable with duty under

item 4(5) of the Second Schedule if —

(a)	duty on the conveyance or transfer would, but for this section, be chargeable under item 4(1) of the Second Schedule;
(b)	the value of the property does not exceed $135 000; and
(c)	the property is conveyed or transferred to —

Stamp Amendment Act 2003

s. 64

(i) one person who is an eligible purchaser;

(ii) in the case of business property — 2 or

more purchasers all of whom are

eligible purchasers; or

(iii) in the case of residential property — 2 or more purchasers —

(I)

at least one of whom is an

eligible purchaser; and

(II)

all of whom are either eligible

purchasers or government

bodies.

(2)

Subject to section 17 of the Taxation Administration

Act 2003, the Commissioner must make any

reassessment necessary to give effect to this section.

(3)

In this section —

“business property” means property that is or

includes a business undertaking;

“eligible purchaser” means —

(a)	in relation to a residential property, an

individual who —

(i)	property will occupy, the

occupies, or after purchasing the or her principal place of residence;

(ii)

intends to so occupy the period; and

(iii) is not acquiring, and does not intend to hold, the property as agent, trustee or otherwise on behalf of another

person;

and

Stamp Amendment Act 2003

s. 65

(b)	in relation to a business property, a person

who —

(i) is not a government body;

(ii)

after purchasing the property will is or is part of the property; and

(iii) intends to carry on that business for an indefinite period;

“residential property” means property that includes a

dwellinghouse.

”.

65. Section 75AF amended

Section 75AF(1) is amended by deleting “several” and inserting

instead —

“ 2 or more ”.

66. Section 75AG replaced

Section 75AG is repealed and the following section is inserted

instead —

“

75AG.

Reduction of duty or refund for first home owner

(1)

The duty payable under item 4(1), 4(5) or 19 of the

Second Schedule on the conveyance or transfer of

residential property is reduced in accordance with

subsection (2) if —

(a)	each of the persons (other than government bodies) to whom the property is conveyed or

transferred —

(i) intends to occupy the dwellinghouse as his or her principal place of residence; or

Stamp Amendment Act 2003

s. 66

(ii) is a trustee holding the property on trust for a person who it is intended will occupy the dwellinghouse as his or her principal place of residence;

(b)	at least one of the persons to whom the property

is conveyed or transferred is —

(i) a first home owner; or

(ii) a trustee holding the property on trust for a first home owner;

and

(c)	the value of the property does not exceed —

(i) if the property is situated north of the

26th parallel of south latitude —

$202 500; or

(ii) otherwise — $135 000.

(2)	The duty payable on the conveyance or transfer is
reduced by an amount equal to R in the formula —





where —

is the combined interest in the property,

expressed as a percentage, of all the people to

whom the property is conveyed or transferred

who are —

(i) first home owners; or

(ii) trustees holding the property on trust for first home owners;

B	is the combined interest in the property, expressed as a percentage, of all the people (including first home owners and trustees) to whom the property is conveyed or transferred who are not government bodies; and

Stamp Amendment Act 2003

s. 66

C	is the lesser of —

(i) $500; and

(ii) the amount of duty that would, but for this section, be payable on the conveyance or transfer.

(3)

A refund, calculated in accordance with subsection (4),

of duty paid under item 4(1), 4(5) or 19 of the

Second Schedule on the conveyance or transfer of land

to a first home owner or to a trustee who holds the land

on trust for a first home owner is payable if — (a) either —

(i) the land is vacant land; or

(ii) the land is residential property but since the date of the conveyance or transfer the first home owner has not occupied the dwellinghouse;

(b)	within 48 months after the date of the conveyance or transfer construction

commences on the land of —

(i) where the land is vacant land, a dwellinghouse; or

(ii) where the land is residential property, a new dwellinghouse;

(c)	each of the persons (other than government

bodies) who own the land —

(i) intends to occupy the dwellinghouse referred to in paragraph (b) as his or her principal place of residence; or

(ii) is a trustee holding the land on trust for a person who it is intended will occupy the dwellinghouse referred to in

paragraph (b) as his or her principal

place of residence;

Stamp Amendment Act 2003

s. 66

and

(d)	the value of the vacant land or residential property at the time of the conveyance or transfer did not exceed $52 000.

(4)	The refund is an amount equal to R in the formula —





where —

is the interest in the land, expressed as a

percentage, of the first home owner or trustee

(as the case requires) as at the building date;

is the combined interest in the land, expressed

as a percentage, of all the people (including the

first home owner or trustee) who are owners of

the land as at the building date other than

government bodies; and

is lesser of —

(i) $500; and

(ii) the amount of duty paid on the conveyance or transfer of the vacant land to the first home owner or trustee (as the case requires).

(5)

If the conveyance or transfer is or was chargeable with duty under item 19 of the Second Schedule, this section does not apply unless the Commissioner is satisfied

that the duty was or will be (as the case requires) paid

by a person to whom the property is conveyed or

transferred who is a first home owner.

(6)

Subject to section 17 of the Taxation Administration

Act 2003, the Commissioner must make any

reassessment necessary to give effect to this section.

Stamp Amendment Act 2003

s. 66

(7) In this section —

“first home owner”, in relation to the conveyance or

transfer of property, means an individual who,

immediately before the conveyance or transfer —

(a)	does not own, and has not previously owned, any residential property, except as a trustee; and
(b)	is not, and has not been, the beneficiary of a

trust of any residential property where —

(i) the individual is or was entitled to occupy the dwellinghouse on the property as his or her principal residence; and

(ii) if the property is in Australia, the conveyance or transfer of the property to the trustee was chargeable with duty under item 4(1), 4(5) or 19 of the Second Schedule or a corresponding law of another State or Territory;

and

(c)	where the property is conveyed or transferred to the individual, he or she is not acquiring the property as a trustee;

“residential property” means property (whether in Western Australia or elsewhere) that includes a dwellinghouse;

“trustee” —

(a)	includes an executor, an administrator, a guardian, a receiver, a liquidator, a person acting in any other fiduciary capacity and a person who in any other capacity has possession, control, or management of the property of a person who is under a legal disability; and

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(b)	does not include a discretionary trustee or a unit trustee;

“vacant land” means land on which there is not a

dwellinghouse.

”.

67. Section 75C amended

(1)	Section 75C(3) is amended by deleting “writing in a form approved by the Commissioner” and inserting instead —
“ an approved form ”.
(2)	Section 75C(3a) is amended by deleting “and it shall be endorsed or stamped, as applicable, accordingly”.
(3)	Section 75C(3b) is repealed.
(4)	Section 75C(4) is amended in the definition of “lot”, in paragraph (a) by deleting “Land Tax Assessment Act 1976” and inserting instead —
“ Land Tax Assessment Act 2002 ”.

68. Section 75D amended

(1)	Section 75D(1) is amended in the definition of “family member” as follows:

(a)	after paragraph (d) by deleting “or”;
(b)	by deleting paragraph (e) and inserting instead —

“

(e)	the spouse or former spouse of the person; or
(f)	the spouse of a person referred to in paragraph (a), (b), (c) or (d),

”.

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s. 69

(2)

Section 75D(1) is amended in the definition of “instrument of

conveyance” by deleting “statement required to be lodged under

Part IIIBA” and inserting instead —

“ Part IIIBA statement ”.

69. Section 75E amended

(1)	Section 75E(1) is amended as follows:

(a)	by deleting “in this section and in section 75HA referred

to as”;

(b)	by deleting “in this section and in section 75HA the

person is referred to as”;

(c)	after paragraph (d) by deleting “and” and inserting instead —

“ or ”.

(2)	Section 75E(5) is amended as follows:

(a)	by deleting “or refund has been allowed” and inserting

instead —

“ has been granted ”;

(b)	by deleting “or refund” in the second place where it

occurs.

(3)	Section 75E(6) is amended as follows:

(a)	in paragraph (a) by deleting “or refund has been allowed” and inserting instead —

“ has been granted ”;

(b)	by deleting “or refund” in the second place where it

occurs.

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s. 70

70. Section 75F replaced

Section 75F is repealed and the following section is

inserted instead —

“

75F.

Exemption of duty for farming property

If the Commissioner is satisfied that this Part applies to

an instrument of conveyance, the Commissioner may,

on receiving an application under section 75H —

(a)	exempt the instrument from duty; or
(b)	in the circumstances referred to in section 75G, partially exempt the instrument from duty.

”.

71. Section 75G amended

(1)	Section 75G(1) is amended as follows:

(a)	by deleting “this Act” and inserting instead —

“ a stamp Act ”;

(b)	in paragraph (d) by deleting “section 75A” and inserting instead —

“

section 33 and sections 21 and 22 of the

Taxation Administration Act 2003

”.

(2)

Section 75G(3) is amended in the definition of “A” by deleting

“section 75A” and inserting instead —

“

section 33 and sections 21 and 22 of the Taxation

Administration Act 2003

”.

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s. 72

72. Section 75H replaced

Section 75H is repealed and the following section is inserted

instead —

“

75H.

Application for exemption

(1)

An application for an exemption under section 75F is

to be made in an approved form by the person

acquiring the farming property, interest or share or, if

there is more than one such person, by all of them.

(2)

Despite section 17(1) of the Taxation Administration

Act 2003, an application for a reassessment of the duty

payable on an instrument to which this Part applies on

the basis that an exemption under section 75F should

have been, but was not, granted in relation to the

instrument cannot be made more than 12 months after

the day on which the instrument was stamped.

”.

73. Section 75HA amended

(1)	Section 75HA(1) is amended as follows:

(a)	by deleting the definition of “farming exemption” and

inserting the following definition instead —

“

“farming exemption” means an exemption or partial

exemption granted by the Commissioner under this

Part;

”;

(b)	at the end of the definition of “relevant proportion” by

deleting the full stop and inserting a semicolon instead;

(c)	after the definition of “relevant proportion” by inserting

the following definition —

“

“the transferor” has the meaning given in

section 75E(1).

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s. 73

”.

(2)	Section 75HA(3) is amended as follows:

(a)	by deleting “allowed” and inserting instead —

“ granted ”;

(b)

by deleting “and lodge with the Commissioner a

statement in a form approved by the Commissioner.”

and inserting instead —

“

a dutiable statement in respect of the taxable event.

Penalty: $20 000.

”.

(3)	After subsection (3) the following subsection is inserted —

“

(3a)	A dutiable statement is to be in an approved form.

”.

(4)	Section 75HA(4) is amended as follows:

(a)	by deleting “lodge a statement under subsection (3)” and

inserting instead —

“ prepare a dutiable statement ”;

(b)	by deleting paragraph (a) and inserting the following

paragraph instead —

“

(a)	a dutiable statement in respect of the farming exemption has previously been prepared under this section and lodged with the Commissioner;

”.

(5)	Section 75HA(5) to (10) are repealed and the following
subsections are inserted instead —

“

(5)	If a dutiable statement is prepared in respect of a farming exemption for an instrument of conveyance referred to in section 75E(1)(e)(i) or (ii), the dutiable

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statement is taken to be an instrument operating as a

voluntary disposition under section 75(1) of the current

exempted property and is chargeable with duty

accordingly.

(6) If —

(a)	a dutiable statement is required to be prepared under this section in respect of a farming exemption for an instrument of conveyance referred to in section 75E(1)(e)(iii);
(b)	a section 76AG statement is required to be prepared in respect of the acquisition that is the subject of the instrument of conveyance; and
(c)	at the date of the taxable event the relevant farming company is beneficially entitled to all or part of the farming land to which the section 76AG statement relates,

then the dutiable statement prepared under this section

is taken to be an instrument operating as a voluntary

disposition under section 75(1) of the relevant

proportion of the farming land or of that part of the

farming land and is chargeable with duty accordingly.

(7) If —

(a)	a dutiable statement is required to be prepared under this section in respect of a farming exemption for an instrument of conveyance referred to in section 75E(1)(e)(iii); and

(b) either —

(i) a section 76AG statement was not required to be prepared in respect of the acquisition that is the subject of the instrument of conveyance; or

(ii) a section 76AG statement was required to be prepared, but at the date of the taxable event the relevant farming

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company is not beneficially entitled to

any part of the farming land to which

the section 76AN statement relates,

then the dutiable statement prepared under this section

is taken to be an instrument operating as a voluntary

disposition under section 75(1) of the current exempted

property and is chargeable with duty accordingly.

(8)

The amount of duty payable in respect of a dutiable

statement prepared in respect of a farming exemption

for an instrument of conveyance referred to in

section 75E(1)(e)(ii) or (iii) is reduced (up to the

amount of duty payable in respect of the dutiable

statement) by the amount of any duty previously paid

on the instrument of conveyance.

”.

74. Section 75I replaced

Section 75I is repealed and the following section is inserted

instead —

“

75I.

Part IIIBA companies

(1) Where —

(a)	instrument of conveyance of a share in a farming company referred to in

the Commissioner is satisfied that an instrument to which this Part applies; and

the Commissioner may —

the transaction to which that instrument relates section 76AG statement,

(b)

(c)	if the land to which the section 76AG statement relates comprises only farming land in Western

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s. 75

Australia — exempt the section 76AG

statement from duty; or

(d)	if the land to which the section 76AG statement relates does not only comprise farming land in

Western Australia — partially exempt the

section 76AG statement from duty.

(2)	The amount of a partial exemption is the amount equal
to R in the formula —

R 

where —

is the value of the farming property in Western

Australia;

is the value of all the land and chattels the

subject of the section 76AG statement; and

is the amount of the duty —

(a)	that would be chargeable on the section 76AG statement; or
(b)

if this Part did not apply to it.

where section 76AH(3) applies, that section 76AG statement,

(3)

Despite section 17(1) of the Taxation Administration

Act 2003, an application for a reassessment of the duty

payable on a section 76AG statement on the basis that

an exemption under section 75I should have been, but

was not, granted in relation to the section 76AG

statement cannot be made more than 12 months after

the day on which the section 76AG statement was

stamped.

”.

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s. 75

75. Section 75J amended

(1)	Section 75J(1) is amended as follows:

(a)	in the definition of “foreign person” by inserting after

paragraph (a) —

“ or ”;

(b)	by deleting the definitions of “Part IIIBA statement” and

“section 31B or 31C statement” and inserting the

following definition instead —

“

“section 31B or 31C statement” means a dutiable

statement prepared under section 31B or 31C;

”.

(2)	Section 75J(4) is repealed.

76. Section 75JA amended

(1)	Section 75JA(1a)(c) is amended by deleting “and is”.
(2)	Section 75JA(2)(b) is amended by deleting “lodged” and inserting instead —
“ prepared ”.
(3)	Section 75JA(3) is amended as follows:

(a)	by deleting “statement relates —” and inserting

instead —

“ Part IIIBA statement relates — ”;

(b)	in paragraph (c) by deleting “writing in a form approved by the Commissioner” and inserting instead —

“ an approved form ”.

(4)	After section 75JA(4) the following subsections are inserted —

“

(5)	A decision by the Commissioner under subsection (3) is a non-reviewable decision.

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(6) In this section —

“instrument” does not include a section 31B or 31C

statement.

”.

77. Section 75JB amended

(1)	Section 75JB(1) is amended as follows:

(a)	in paragraph (b) by deleting “under this Act” and inserting instead —

“ from duty ”;

(b)	in paragraph (d)(iii) —

(i) by deleting “lodged” and inserting instead —

“ prepared ”;

(ii) by deleting “paid in respect of that” and inserting

instead —

“ paid on that Part IIIBA ”.

(2)	Section 75JB(2)(b) is amended by deleting “has been paid in this State or elsewhere” and inserting instead —
“ or interstate duty has been paid ”.
(3)	Section 75JB(3)(b) is amended by deleting “lodged” and inserting instead —
“ prepared ”.
(4)	Section 75JB(4) is amended as follows:

(a)	after paragraph (b) by deleting “or”;
(b)	by deleting “writing in a form approved by the Commissioner” and inserting instead —

“ an approved form ”.

(5)

Section 75JB(5f)(c) and (5h) are amended by deleting “writing

in a form approved by the Commissioner” and inserting

instead —

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“ an approved form ”.

(6)	Section 75JB(5i) is repealed.
(7)	Section 75JB(8) is amended by deleting “fine” and inserting instead —
“ penalty tax ”.
(8)	After section 75JB(8) the following subsection is inserted —

“

(9)	A decision by the Commissioner under subsection (7) is a non-reviewable decision.

”.

78. Section 75JBA amended

(1)

Section 75JBA(3) is amended by deleting “writing in a form

approved by the Commissioner” and inserting instead —

“ an approved form ”.

(2)

Section 75JBA(4) is repealed.

79. Section 75JC amended

(1)	Section 75JC(1) is repealed and the following subsection is
inserted instead —

“

(1)

A person acting on behalf of a body corporate that

proposes to be party to a transaction or transfer that

would give rise to —

(a)	an instrument which, if executed; or
(b)	an obligation to prepare a section 31B or 31C statement or a Part IIIBA statement which, if finalised,

might be exempt from duty under section 75JA or 75JB, may request the Commissioner to determine

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whether a draft of that instrument or statement, if

executed or finalised, would be so exempt.

”.

(2)	Section 75JC(2) is amended by deleting “writing in a form approved by the Commissioner” and inserting instead —
“ an approved form ”.
(3)	Section 75JC(5)(a) is amended by deleting “lodged” and inserting instead —
“ finalised ”.

80. Section 75JD amended

(1)	Section 75JD(1), (2) and (3) are repealed and the following
subsections are inserted instead —

“

(1)

An application for an exemption under section 75JA or

75JB must be made in an approved form.

(2)

Despite section 17(1) of the Taxation Administration

Act 2003, an application for a reassessment of the duty

payable on —

(a)	an instrument referred to in section 75JA(2)(a) or (2a) or 75JB(3)(a); or
(b)	a Part IIIBA statement referred to in section 75JA(2)(b) or 75JB(3)(b),

on the basis that an exemption under section 75JA or 75JB (as the case requires) should have been, but was not, granted in relation to the instrument or statement cannot be made more than 12 months after the date of execution of the instrument or the occurrence of the

relevant acquisition.

(3)	Subject to section 17(2), (3) and (4) of the Taxation Administration Act 2003, the Commissioner must make

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any reassessment necessary to give effect to

sections 75JA and 75JB.

”.

(2)	Section 75JD(4) is amended as follows:

(a)	by deleting “fine” in the first place where it occurs and

inserting instead —

“ penalty tax under section 75JE(b) or 75JF(b) ”;

(b)	by deleting “for the duty and fine” and inserting instead —

“ notice ”.

81. Section 75JDA amended

(1)	Section 75JDA(2) is amended as follows:

(a)	by deleting “or statement” and inserting instead —

“ or Part IIIBA statement ”;

(b)	by deleting “lodged” and inserting instead —

“ finalised ”.

(2)

Section 75JDA(3) and (4) are amended by deleting “or

statement” and inserting instead —

“ or Part IIIBA statement ”.

82. Section 75JE amended

(1)	Section 75JE(1) is amended as follows:

(a)	by deleting the subsection designation “(1)”;
(b)	in paragraph (b) —

(i) by deleting “a fine” and inserting instead —

“ penalty tax ”;

(ii) by deleting “for that duty and fine” and inserting

instead —

“ notice ”;

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s. 83

(c)	in paragraph (c) —

(i) by deleting “fine” in the first place where it

occurs and inserting instead —

“ penalty tax ”;

(ii) by deleting “for the duty and fine” and inserting

instead —

“ notice ”;

(d)	in paragraphs (d), (da) and (e) by deleting “fine” in each place where it occurs and inserting instead —

“ penalty tax ”;

(e)	in paragraph (f) —

(i) by deleting “fine” and inserting instead —

“ penalty tax ”;

(ii) by deleting “to have been duly” and inserting

instead —

“ to be, and always to have been, ”.

(2)	Section 75JE(2) is repealed.

83. Section 75JF amended

(1)	Section 75JF(1) is amended as follows:

(a)	by deleting the subsection designation “(1)”;
(b)	in paragraph (a) by deleting “statement” and inserting instead —

“ Part IIIBA statement ”;

(c)	in paragraph (b) —

(i) by deleting “statement” in both places where it

occurs and inserting instead —

“ Part IIIBA statement ”;

(ii) by deleting “a fine” and inserting instead —

“ penalty tax ”;

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s. 83

(iii) by deleting “for that duty and fine” and inserting instead —

“ notice ”;

(d)	in paragraph (c) —

(i) by deleting “fine” in the first place where it

occurs and inserting instead —

“ penalty tax ”;

(ii) by deleting “for the duty and fine” and inserting

instead —

“ notice ”;

(e)	in paragraph (d) by deleting “fine:” and inserting instead —

“ penalty tax — ”;

(f)	in paragraph (d)(i) by deleting “statement lodged under section 76AG” and inserting instead —

“ section 76AG statement ”;

(g)	in paragraph (d)(ii) —

(i) by deleting “statement lodged under

section 76AN” and inserting instead —

“ section 76AN statement ”;

(ii) by deleting “lodge the” and inserting instead —

“ prepare the section 76AN ”;

(h)	in paragraph (e) by deleting “fine” in both places where it occurs and inserting instead —

“ interstate duty ”.

(3)

Section 84(2a)(b) is amended by inserting before “duty” —

“ interstate ”.

(4)

Section 84(2b)(b) is amended by deleting “duty of a like nature

to duty payable under subsection (1)” and inserting instead —

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“ interstate duty ”.

(5)	Section 84(2c) is amended by deleting all the words from and
including “duty that” to the end of the subsection and inserting
instead —
“

interstate duty that would otherwise be payable under a

law of that State or Territory.

”.

(6)	Section 84(4) is amended as follows:

(a)	by deleting “in writing”;
(b)	by deleting “duty on the instrument, or any other

instrument securing the same moneys, in another State

or Territory of the Commonwealth” and inserting

instead —

“

interstate duty on the instrument, or any other

instrument securing the same money

”.

(7)	Section 84(4)(a) is amended by deleting “duty had been paid in another State or Territory” and inserting instead —
“ interstate duty had been paid ”.
(8)	Section 84(4)(b), (c) and (d) are deleted and the following
paragraphs are inserted instead —

“

(b)	the Commissioner is to make an assessment of the difference between the amount of duty payable under subsection (1) and the duty paid under paragraph (a), and issue an assessment notice for that amount;
(c)	if the instrument is produced to the Commissioner within 3 months after the assessment notice was issued, together with

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proof of payment of the interstate duty, the notice and endorse the instrument accordingly;

(d)	if paragraph (c) is not complied with —

(i) the duty and any penalty tax is payable within 3 months after the assessment notice was issued;

(ii) no reduction shall be allowed for any interstate duty paid; and

(iii) the instrument is available only for the amount in respect of which duty has been paid under paragraph (a) as if the instrument related to property only in Western Australia until the duty and penalty tax is paid in full.

”.

107. Section 87 amended

(1)	Section 87(1) is amended by deleting “duly”.
(2)	Section 87(1a) is amended by deleting “a form approved by the Commissioner” and inserting instead —
“ an approved form ”.
(3)	Section 87(2) is amended by deleting “duly”.
(4)	Section 87(3) is repealed.

108. Section 88 amended

Section 88(2)(b) is deleted and the following paragraph is

inserted instead —

“

(b)	if the option or right is granted after the execution of the instrument, the instrument is taken to have been first executed on the day on which the option or right was granted.

”.

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s. 109

109. Section 88A amended

(1)	Section 88A(1) is amended by deleting “kind.” and inserting instead — “

kind as if it had been first executed on the day on

which it became an instrument of security.

”.

(2)	Section 88A(2) is repealed.

110. Section 90A amended

Section 90A is amended by deleting “, or refund any duty paid

on,”.

111. Section 92 amended

Section 92 is amended by deleting “the State” in both places

where it occurs and inserting instead —

“ Western Australia ”.

112. Section 92A replaced

Section 92A is repealed and the following section is inserted

instead —

“

92A.

Dutiable statement required if policy issued outside

Western Australia

(1)	Every person resident in Western Australia who
effects —

(a)	a policy of life insurance; or
(b)	any insurance in respect of —

(i) property in Western Australia; or

(ii) any liability, loss or damage occurring or brought about by the happening of any event within Western Australia,

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for which insurance a policy of insurance is or is to be

issued or renewed outside Western Australia shall

within one month after effecting the insurance prepare

and lodge with the Commissioner a dutiable statement

in respect of the insurance.

Penalty: $20 000.

(2)	A dutiable statement is to be in an approved form.
(3)	A dutiable statement prepared under subsection (1) is taken to be a policy of insurance in respect of the insurance to which it relates and is chargeable with duty accordingly.
(4)	The duty payable on a dutiable statement prepared
under subsection (1) is payable —

(a)	by the person who effected the insurance; and
(b)	within one month after the insurance was effected.

(5)

Subsections (1) to (4) do not apply if, before a dutiable

statement prepared under subsection (1) is stamped, a

policy of insurance for the insurance referred to in

subsection (1) is stamped.

(6)

A person resident in Western Australia must not accept

payment of, or agree to have allowed on account, any

money on or in respect of any insurance the policy for

which is or is to be issued or renewed outside Western

Australia unless the policy, or a dutiable statement in

respect of the insurance, has been stamped.

Penalty: $20 000.

”.

113. Section 92AA repealed

Section 92AA is repealed.

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s. 114

114. Section 92B amended

(1)	Section 92B(1) is amended as follows:

(a)	by deleting “the State” in each place where it occurs and

inserting instead —

“ Western Australia ”;

(b)	by deleting “a return” and inserting instead —

“ a statement ”;

(c)	by deleting “in writing”;
(d)	by inserting after the subsection —

“ Penalty: $20 000. ”.

(2)	Section 92B(2) is amended by deleting “return” in each place where it occurs and inserting instead —
“ statement ”.
(3)	Section 92B(3) and (4) are repealed.
(4)	Section 92B(5) is amended as follows:

(a)	by deleting “return and any written particulars” and

inserting instead —

“ statement ”;

(b)	by deleting “are” in both places where it occurs and

inserting instead —

“ is ”.

115. Section 94 amended

(1)	Section 94(1) is repealed and the following subsections are
inserted instead —

“

(1)	A person who receives or takes credit for any premium or consideration for any contract of insurance must, within 3 months after receiving or taking credit for

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such premium or consideration, make out, execute and

have stamped, a policy of such insurance.

Penalty: $20 000.

(1a)

A person must not make, execute, or deliver out, or pay

or allow in account, or agree to pay or allow in

account, any money on or in respect of any policy of

insurance which is not stamped.

Penalty: $20 000.

”.

(2)	Section 94(2) is amended by deleting all of the words from and
including “the State shall” to the end of the subsection and
inserting instead —
“

Western Australia must notify the Commissioner, in an approved form, that the contract of insurance has been made, entered into or renewed.

Penalty: $20 000.

”.

(3)	Section 94(3) is repealed.
(4)	Section 94(3a) is amended as follows:

(a)	by deleting “the State” and inserting instead —

“ Western Australia ”;

(b)	by deleting “this State” and inserting instead —

“ Western Australia ”.

(5)	Section 94(4) is amended as follows:

(a)	by deleting “upon a return furnished under

subsection (1) of that section” and inserting instead —

“ on a dutiable statement ”;

(b)	by deleting “the return” and inserting instead —

“ the dutiable statement ”;

(c)	by deleting “the State” and inserting instead —

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“ Western Australia ”.

116. Section 95 amended

Section 95 is amended as follows:

(a)	by deleting “a transfer or assignment of a policy of fire

insurance nor upon”;

(b)	by deleting “upon which the duty imposed by this Act

has been paid before such time.” and inserting

instead —

“ that has been stamped. ”.

117. Section 95A repealed

Section 95A is repealed.

118. Section 96 amended

(1)

Section 96(1) is amended by deleting “that is issued or renewed

on or after 1 November 1989”.

(2)

Section 96(3) is amended by deleting “under this Act”.

119. Section 97 repealed

Section 97 is repealed.

120. Part IVA replaced (sections 112AB to 112FU)

Part IVA is repealed and the following Part is inserted

instead —

“

Part IV — Unlisted WA securities

100. Interpretation

In this Part —

“issuer”, in relation to an unlisted WA security, means

the body that issued the security;

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s. 120

“overseas transfer” means a transfer of an unlisted

WA security that —

(a)	is quoted on a financial market that is situated outside Australia and is not a recognized financial market; and
(b)	is registered outside Australia on a branch register of the WA company;

“register”, when used as a verb in relation to an

overseas transfer, means register in a register kept

under Chapter 2C of the Corporations Act;

“security” means a marketable security or right in

respect of shares;

“unlisted WA security” means a security that —

(a)	is situated in Western Australia; and
(b)	is not quoted on a recognized financial market.

101. Share buy-back

For the purposes of this Part a buy-back by a company

of its own shares or stocks in accordance with —

is taken to be a transfer of shares or stocks.

Division 4B of Part 2.4 of the Corporations commencement of Schedule 1 to the Company Law Review Act 1998 of the Commonwealth; or

(a)

(b)	Division 2 of Part 2J.1 of the Corporations Act,

102. Securities situated in Western Australia

(1)	For the purposes of a stamp Act, a security of a WA company is situated in Western Australia, irrespective of where the register on which it is registered by the company is situated and despite section 1070A(4) of the Corporations Act or any other law.

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(2)	A security of a foreign company is situated in Western Australia if the security is registered on a register kept by the company in Western Australia.
(3)	A unit in a unit trust scheme is situated in Western
Australia if —

(a)	the scheme’s principal register is kept in

Western Australia; or

(b)	where the scheme’s principal register is not

kept in Australia, the scheme’s manager, or if

the scheme does not have a manager, the

trustee, is —

(i) an individual resident in Western Australia;

(ii) a WA company; or

(iii) a foreign company with a registered office under the Corporations Act in Western Australia.

(4)

A security of a company that is taken under the

Corporations Act to be registered in another State or

Territory, is not situated in Western Australia even if it

is registered on a register in Western Australia.

(5)

Subsection (1) is declared to be a Corporations

legislation displacement provision for the purposes of

section 5G of the Corporations Act in relation to

section 1070A(4) of that Act.

103. Prohibition on registration of unstamped transfer

(1)

The issuer of an unlisted WA security must not register

a transfer of the security, other than an overseas

transfer, unless the issuer is given an instrument of

transfer —

(a) that sets out —

(i) the consideration given for the transfer;

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s. 120

(ii) if the transfer is to give effect to a sale of the security, the date of the sale; and

(iii) the date on which the instrument was executed by each party to it;

and

(b)	that has been stamped or is not chargeable with duty.

Penalty: $20 000.

(2)	The right or title of a transferee or subsequent holder of an unlisted WA security is not invalidated only because a transfer of the security was registered in
contravention of this section.

104. Registration of an overseas transfer

(1)	Nothing in this Part prevents a WA Company from
registering an overseas transfer —

(a)	whether or not there is an instrument of transfer; and
(b)	whether or not duty has been paid on the transfer.

(2)	Before a WA Company registers an overseas transfer for which there is not an instrument of transfer, the WA company must prepare a dutiable statement in respect of the transfer.
(3)	A dutiable statement is to be in an approved form.
(4)	A dutiable statement prepared under subsection (2) is taken to be an instrument of transfer of the unlisted WA securities the subject of the overseas transfer.
(5)	If a WA company registers an overseas transfer in respect of which duty has not been paid, the WA company is liable to pay the duty chargeable on the

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s. 120

instrument of transfer or the dutiable statement

prepared under subsection (2) (as the case may be).

(6)	Duty payable by a WA company under subsection (4) is to be paid in accordance with section 105.

105. Return of overseas transfers and payment of duty

(1)

Within 15 days after the end of a month in which a WA

company registers an overseas transfer, the WA

company must —

(a)	lodge with the Commissioner a return in an approved form of all overseas transfers registered by the WA company in that month other than those that are exempt from duty; and
(b)	when lodging the return, pay to the Commissioner the amount of duty payable on the instrument of transfer for, or the dutiable statement prepared under section 104 in respect of, each transfer to which the return relates.

Penalty: $20 000.

(2)

On payment of duty under subsection (1) in respect of

an overseas transfer, the instrument of transfer or the

dutiable statement (as the case may be) is taken to have

been stamped.

(3)

The right or title of a transferee or subsequent holder of

a security is not invalidated by reason only that the

issuer contravened subsection (1).

106. Valuing an unlisted WA security

(1)	The value of an unlisted WA security is to be
determined —

(a)	as if the constitution or governing rules of the issuer satisfied any requirements of the Australian Stock Exchange Limited that must

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s. 121

be satisfied before the security could be quoted on the Australian Stock Exchange Limited; and

(b)	disregarding a provision in the constitution or governing rules of the issuer providing for the valuation of the security.

(2)	Despite subsection (1), the Commissioner may determine the value of an unlisted WA security to be the amount the Commissioner considers would be received by the holder of the security if the issuer were to be voluntarily wound up on the day of the transfer.

107. Retention of instruments of transfer

An issuer must retain an instrument of transfer for, or a

dutiable statement prepared under section 104 in

respect of, the transfer of an unlisted WA security for

at least 5 years after the transfer is registered by the

issuer.

Penalty: $20 000.

”.

121. Section 112HA amended

(1)	Section 112HA(4), (5), (6) and (7) are repealed and the
following subsections are inserted instead —

“

(4)	If this section applies the WA company must prepare a dutiable statement in relation to the capital reduction or the rights alteration and share cancellation, unless the
capital reduction, or the rights alteration and the share cancellation, also result in a relevant acquisition occurring under Part IIIBA.
Penalty: $20 000.
(5)	A dutiable statement must be in an approved form.
(6)	A dutiable statement prepared under this section is taken to be an instrument evidencing the capital reduction or the rights alteration and share cancellation

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s. 122

and is chargeable with duty at the rate provided for in item 4A of the Second Schedule on the dutiable value.

”.

(2)	Section 112HA(10) is repealed.
(3)	Section 112HA(11) is amended by deleting “statement” and inserting instead —
“ dutiable statement ”.
(4)	Section 112HA(12) and (13) are repealed.

122. Section 112I amended

(1)

Section 112I(1) is amended in the definition of “service costs”

by deleting “in writing”.

(2)

Section 112I(1a)(a) is amended by deleting “under this Act”.

123. Section 112J amended

(1)	Section 112J(1) is amended as follows:

(a)	by deleting “the State” in both places where it occurs

and inserting instead —

“ Western Australia ”;

(b)	by inserting after the subsection —

“ Penalty: $20 000. ”.

(2)	Section 112J(1a) is repealed.
(3)	Section 112J(2) is amended by deleting “the State” in each place where it occurs and inserting instead —
“ Western Australia ”.
(4)	Section 112J(3) is amended by deleting “such form as the Commissioner approves in writing” and inserting instead —
“ an approved form ”.

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s. 124

(5)

Section 112J(3a)(b) is amended by deleting “the State” and

inserting instead —

“ Western Australia ”.

124. Section 112K amended

(1)	Section 112K(1) is amended as follows:

(a)	by deleting “statement in such form as the

Commissioner requires in writing” and inserting

instead —

“ return in an approved form ”;

(b)	in paragraph (a) and (a)(ii) by deleting “statement” and inserting instead —

“ return ”;

(c)	by deleting paragraphs (a)(iii) and (iv) and inserting the

following subparagraphs instead —

“

(iii) the total amount received by him or her during the last preceding month in respect of his or her rental business on which interstate duty has been paid if the rate of interstate duty is less than the rate specified in subparagraph (ii); and

(iv) an amount determined by deducting the amount of the interstate duty from the sum equal to 1.8% of the sum arrived at by deducting service costs from the total amount referred to in subparagraph (iii) as set out in the return;

”;

(d)	in paragraph (b) —

(i) by deleting “on that statement”;

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s. 124

(ii) by deleting “statement” in the other 2 places

where it occurs and inserting instead —

“ return ”;

(iii) by deleting “in cash”;

(e)	by inserting after the subsection —

“ Penalty: $5 000. ”.

(2)	Section 112K(1a) is amended as follows:

(a)	by deleting “statement” and inserting instead —

“ return ”;

(b)	by inserting after the subsection —

“ Penalty: $5 000. ”.

(3)

Section 112K(1c) is amended by deleting “statement” and

inserting instead —

“ return ”.

(4)

Section 112K(2) is amended as follows:

(a)	in paragraph (a) —

(i) by deleting “year a statement” and inserting

instead —

“ year an annual return ”;

(ii) by deleting “in a statement” and inserting

instead —

“ in a monthly return ”;

(b)	in paragraph (b) —

(i) by deleting “on that statement”;

(ii) by deleting “statement” in the second place

where it occurs and inserting instead —

“ return ”;

(c)	by inserting after the subsection —

“ Penalty: $5 000. ”.

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s. 125

(5)	Section 112K(2a) is amended by deleting “writing in such form as the Commissioner approves in writing” and inserting
instead —
“ an approved form ”.
(6)	Section 112K(3) is amended as follows:

(a)	by deleting “statement” in both places where it occurs

and inserting instead —

“ return ”;

(b)	by inserting after the subsection —

“ Penalty: $20 000. ”.

(7)	Section 112K(4) is amended by deleting “in writing” in both
places where it occurs.
(8)	Section 112K(5) is repealed.

125. Section 112KA amended

(1)	Section 112KA(1) is amended as follows:

(a)

by deleting all the words from the beginning of the

subsection (including the subsection designation “(1)”)

to and including “where —” and inserting instead —

“

A registered person is exempt from duty under this Part

in respect of a financial year if —

”;

(b)	in paragraphs (a) and (b) by deleting “to which the statement relates,”.

(2)	Section 112KA(2) is repealed.

126. Section 112L amended

Section 112L(d)(i), (ii) and (iii) are amended by deleting “the

State” and inserting instead —

“ Western Australia ”.

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s. 127

127. Section 112N amended

(1)	Section 112N(1) is amended as follows:

(a)	by deleting paragraph (f) and inserting the following

paragraph instead —

“

(f)	rental business in respect of which interstate duty has been paid at a rate that is not less than the rate specified in section 112K(1)(a)(ii);

”;

(b)	in paragraph (g), (g)(i) and (g)(ii) by deleting “the State” and inserting instead —

“ Western Australia ”.

(2)	Section 112N(2) is repealed.

128. Section 112O amended

(1)	Section 112O(1) is amended as follows:

(a)	by deleting “keep or cause to be kept in the State” and

inserting instead —

“

make, or cause to be made, and retain in Western

Australia

”;

(b)	by deleting “statement” and inserting instead —

“ return ”.

(2)	Section 112O(1a), (2) and (2a) are repealed and the following
subsection is inserted instead —

“

(2)	A registered person shall make available for inspection the books and records referred to in subsection (1).

”.

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s. 129

(3)	Section 112O(3) is amended as follows:

(a)	in paragraph (a) by deleting “statement” and inserting instead —

“ return ”;

(b)	by deleting “statements” in each place where it occurs

and inserting instead —

“ returns ”.

(4)	Section 112O(4) is amended as follows:

(a)	by deleting “statement” in the first 2 places where it

occurs and inserting instead —

“ return ”;

(b)	by deleting “on that statement if it” and inserting

instead —

“ if the return ”.

(5)	Section 112O(5) is amended by deleting “in writing”.

129. Section 112P amended

(1)	Section 112P(1) is amended as follows:

(a)	by deleting “the State” in both places where it occurs and inserting instead —

“ Western Australia ”;

(b)	by deleting all the words from and including “he shall”

to the end of the subsection and inserting instead —

“

the person is to prepare a dutiable statement in relation

to the transaction or offer.

Penalty: $20 000.

”.

Stamp Amendment Act 2003

s. 130

(2)	Section 112P(2), (4) and (5) are repealed and the following
subsection is inserted instead —

“

(2)	A dutiable statement must be in an approved form.

”.

(3)	Section 112P(6) is amended as follows:

(a)	by deleting “the State is not required to make a note or

memorandum” and inserting instead —

“

Western Australia is not required to prepare a dutiable

statement

”;

(b)	in paragraph (d), (d)(i) and (d)(ii) by deleting “the State” and inserting instead —

“ Western Australia ”.

130. Section 112Q amended

Section 112Q(1) is amended by deleting “this Act” and inserting

instead —

“ a stamp Act ”.

131. Section 112R amended

Section 112R(1) is amended by deleting “this Act” and inserting

instead —

“ a stamp Act ”.

132. Section 112UA amended

Section 112UA is amended as follows:

(a)	in the definition of “Family Court Act” by deleting “the

Parliament of the State” and inserting instead —

“ Western Australia ”;

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s. 133

(b)	in the definition of “Family Law Act” by deleting

“Parliament of the” in both places where it occurs.

133. Section 112UB amended

Section 112UB(2) is amended as follows:

(a)	in paragraph (b) by deleting “otherwise be dutiable under the provisions of this Act other than this Part” and

inserting instead —

“ , but for this Part, be chargeable with duty ”;

(b)	by deleting all the words from and including “the

Commissioner shall” to the end of the subsection and

inserting instead —

“

the maintenance agreement, order, or instrument of

conveyance or transfer is chargeable with duty in

respect of those other matters in accordance with this

Act other than this Part.

”.

134. Section 112UC amended

Section 112UC is amended by deleting “this Act” and inserting

instead —

“ a stamp Act ”.

135. Section 112UD amended

Section 112UD is amended as follows:

(a)	by deleting “this Act” in the first place where it occurs

and inserting instead —

“ a stamp Act ”;

(b)	by deleting “duly stamped in accordance with this Act”

and inserting instead —

“ stamped ”.

Stamp Amendment Act 2003

s. 136

136. Section 112UE amended

(1)	Section 112UE(2)(c) is amended by deleting “motor”.
(2)	Section 112UE(5), (6) and (7) are repealed and the following
subsection is inserted instead —

“

(5)	An application is to be made to the Commissioner in an approved form.

”.

137. Sections 112V to 118 replaced

Sections 112V, 113, 114, 115, 116, 117 and 118 are repealed

and the following sections are inserted instead —

“

113. Commissioner may impound unstamped documents

If it appears to the Commissioner that an instrument in

the Commissioner’s possession or control (regardless

of how it came to be in the Commissioner’s possession

or control) is chargeable with duty but has not been

stamped, the Commissioner may impound the

instrument until the duty and any penalty tax payable in

respect of the instrument have been paid.

114. Commissioner may destroy instruments

(1)	The Commissioner may destroy any instrument in the
Commissioner’s possession or control if —

(a)	6 years have elapsed since the original assessment of the amount of duty payable in respect of the instrument was made; and
(b)	any amount that remains unpaid under a stamp Act in respect of the instrument has been written off under the Taxation Administration Act 2003.

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s. 138

(2)	Neither the Commissioner, nor any person acting under
the Commissioner’s authority, is liable in tort for any
act done under subsection (1).

”.

138. Section 119 amended

Section 119(7) is repealed.

139. Section 120 replaced

Section 120 is repealed and the following section is inserted

instead —

“

120. Regulations

(1)

The Governor may make regulations prescribing all

matters that are required or permitted by a stamp Act to

be prescribed or are necessary or convenient to be

prescribed to give effect to a stamp Act.

(2)

Regulations may be made in relation to any or all of the

following matters —

(a)	the fees payable under a stamp Act;
(b)	the records required to be kept for the purposes of a stamp Act.

(3)	Regulations may create offences and provide, in respect of an offence so created, for the imposition of a fine not exceeding $5 000.

”.

140. First Schedule repealed

The First Schedule is repealed.

141. Second Schedule amended

(1)	The amendments in this section are to the Second Schedule.

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s. 141

(2)	Item 4(5) is amended by deleting “the purchaser is an entitled
person under section 75AE” and inserting instead —
“

the conveyance or transfer is chargeable under section 75AE

with duty under this subitem

”.

(3)	Item 9 is amended by deleting “an instrument chargeable with
duty” and inserting instead —
“ a stamped instrument ”.
(4)	Item 13(1) is amended by deleting “duly”.
(5)	Item 14 is amended as follows:

(a)	by deleting the heading to the item and inserting

instead —

“

VEHICLE LICENCES, GRANT OR TRANSFER

”;

(b)	by deleting “issue” in each place where it occurs and

inserting instead —

“ grant ”;

(c)	in the third column —

(i) by deleting “issued” and inserting instead —

“ granted ”;

(ii) by deleting “section 76C(13)” and inserting

instead —

“ section 76H(2) ”;

(d)	in the first column, in subitem (1) by deleting “motor”.

(6)

Item 16(1)(a)(i)(A) is amended by deleting “Pay-roll Tax

Assessment Act 1971” and inserting instead —

“ Pay-roll Tax Assessment Act 2002 ”.

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s. 142

(7)	Item 16(1)(a)(i)(B) is amended by deleting “section 10” and
inserting instead —
“ section 39 or 40 ”.
(8)	Item 16(1)(c) is amended as follows:

(a)	by deleting “ — on the amount calculated under

section 96(2)”;

(b)	by inserting after “8%” —

“ of the amount calculated under section 96(2) ”.

(9)	Item 16 is amended in the third column by deleting “and see
section 94” and inserting instead —
“ and see sections 92A(4)(a) and 94 ”.

142. Third Schedule amended

(1)	The amendments in this section are to the Third Schedule.
(2)	Item 1(4) is amended by inserting after paragraph (c) —
“ or ”.
(3)	Item 3(1)(a) and (b) are amended by deleting “duly”.
(4)	Item 6(1) is deleted and the following subitem is inserted
instead —

“

(1)	All leases or agreements for leases from —

(a)	the Crown;
(b)	the Minister to whom the administration of the Land Administration Act 1997 is for the time being committed, under that Act; or
(c)	the Minister to whom the Mining Act 1978 is for the time being committed, under that Act.

”.

(5)	Item 7(4) is amended by deleting “the State” and inserting
instead —

Stamp Amendment Act 2003

s. 142

“ Western Australia ”.

(6)	Item 8(2) is amended by deleting “the State” and inserting
instead —
“ Western Australia ”.
(7)	Item 9 is amended in the heading by deleting “MOTOR”.
(8)	Item 9 is amended as follows:

(a)	by deleting “motor” in each place where it occurs;
(b)	by deleting “issue” in each place where it occurs and

inserting instead —

“ grant ”;

(c)	by deleting “issued” in each place where it occurs and

inserting instead —

“ granted ”.

(9)	Item 9(3) is amended by deleting “tractor or tractor plant, other
than a prime mover, (as those terms are defined in the Road
Traffic Act 1974)” and inserting instead —
“ vehicle that is in a prescribed class of vehicles ”.