Stamp Act 1921 (WA)

Western Australia Stamp Act 1921 Western Australia Stamp Act 1921 Contents Part I — Preliminary 1. Short title and commencement 1 2. Expiry of Act 1 4. Terms used in this Act M, MC 1 4A. Treatment of amounts payable for GST 1 Part II — Conditional contracts (interpretation) 6. Meaning of "eligible conditional contract" 1 7. Persons who are "related" for the purposes of this Part 1 8. Meaning of "general conditional contract" 1 9. Meaning of "farming land conditional contract" 1 10. Meaning of "off‑the‑plan conditional contract" 1 11. Meaning of "mining tenement conditional contract" 1 12. Meaning of "subdivision conditional contract" 1 13. When a conditional contract becomes unconditional 1 14. Termination of conditional contracts on relevant grounds 1 Part III — General provisions 16. Charge of duties on instruments MC 1 17. Liability to pay duty 1 17A. Time for payment of duty 1 17AA. Time for payment on certain conditional contracts 1 17B. Requirement to lodge instrument 1 17BA. Time for lodging certain conditional contracts 1 17C. Instrument to be endorsed when duty paid etc. 1 18. How instruments to be written 1 19. Instruments to be separately charged with duty in certain cases 1 20. Reduction of duty if matter not carried into effect 1 26. Facts and circumstances affecting duty to be set forth in instrument MC 1 27. Instruments not stamped inadmissible except in criminal proceedings 1 28. No instrument to be registered etc. unless stamped 1 29. Production of instruments as evidence 1 30. Secondary evidence 1 31. Stamped instruments as evidence 1 31B. Payment of duty on statements in absence of dutiable instrument 1 31C. Preparation of dutiable statement about voluntary transfers under the Financial Sector (Transfers of Business) Act 1999 of the Commonwealth 1 33. Valuation of land or other property 1 34. Duplicates and counterparts 1 35. Unlodged transfers — independent person's obligations 1 36. Mode of calculating ad valorem duty in certain cases 1 38. Instruments held in escrow 1 39. Determining whether securities are situated in Western Australia 1 40. Valuing a marketable security or right in respect of shares 1 Part IIIB — Conveyances and transfers 63. Terms used in this Part 1 63AA. Registered unit trust schemes 1 63AB. Criteria for registration of a unit trust scheme 1 63AC. Interim registration 1 63AD. Cancellation of registration or interim registration 1 63ADA. Registration of private unit trust scheme as provisional public trust 1 63ADB. Cancellation of registration of provisional public trust 1 63AE. Dutiable statement about disqualifying event and subsequent transfers or dispositions 1 63AF. Duty chargeable on the dutiable statement 1 63AG. When unit trust scheme becomes private unit trust scheme 1 63AH. Liability for duty on aggregated dispositions 1 63AI. Interstate security duty 1 63AJ. Dutiable statement to be lodged 1 63A. Duty on certain decrees and orders 1 64. How ad valorem duty to be calculated in respect of stock and securities 1 65. How ad valorem duty to be calculated in respect of securities and periodical payments 1 66. How conveyances in consideration of a debt or subject to future payment etc. to be charged 1 67. Duty where conveyance is partly in consideration of improvements made or to be made on property 1 69. Conveyance duty in cases where conveyance made at request or by direction of intermediary 1 70. Certain transfers of chattels dutiable 1 71. Duty charged for 2 or more instruments of conveyance 1 72. Transfer or assignment of mortgages for value 1 73. As to conveyances on any occasion except sale or mortgage 1 73A. Conveyance subject to an option 1 73AA. Duty on conveyance not passing a beneficial interest 1 73AB. Duty on conveyance to correct error 1 73B. Conveyance agreement subject to unilateral determination 1 73C. Option to purchase with right to renew 1 73CA. Effect of Duties Act 2008 on sections 73D, 73DAA, 73DE and 73E 1 73D. Disposition of units in unit trust schemes 1 73DAA. Dutiable statement required if transfer or instrument not lodged 1 73DA. Holdings of majority interest unit trustee 1 73DB. Terms used in sections 73DC, 73DD and 73DE 1 73DC. Acquisition of majority interest or further interest in pooled investment trust 1 73DD. Meaning of "majority interest" and "further interest" 1 73DE. Dutiable statement to be lodged 1 73E. Disposition of shares in discretionary trustee companies 1 73F. Acquisition of a licence to carry on a business activity 1 73G. Farm‑in agreements relating to mining tenements 1 74. Certain contracts to be chargeable as conveyances on sale 1 74A. Duty chargeable on certain conveyances of corporation property 1 74B. Transactions involving a call option and a put option 1 74C. Acquisition of certain business assets 1 75. Duty chargeable on conveyance for less than full consideration 1 75A. Power to exempt instruments made for charitable or similar purposes 1 75AB. Power to exempt instruments made in respect of certain funds or schemes 1 75ABA. Power to exempt transfers by bankruptcy trustee to bankrupt 1 75AC. Exchange of property 1 75AD. Duty chargeable on partition of property 1 75AE. Concessional rates for certain residential or business property 1 75AF. Computation of duty for 2 or more instruments 1 75AG. Reduction of duty or refund for first home owner 1 75AH. Further transfer to person who was first home owner 1 75C. Power to exempt for certain conveyances between spouses 1 75CA. Refund where contingent consideration is not paid 1 Part IIIBAA — Certain transfers of farming property 75D. Terms used in this Part 1 75E. Application of this Part 1 75F. Power to exempt for farming property 1 75G. Partial exemption of duty 1 75H. Application for exemption 1 75HA. Subsequent liability for duty in certain circumstances 1 75I. Part IIIBA companies 1 Part IIIBAAA — Exemptions for corporate reconstructions 75J. Terms used in this Part 1 75JAA. When a body corporate is dormant 1 75JA. Corporate reconstructions: exemptions 1 75JB. Corporate reorganisations: exemption from duty on conveyances between associated bodies corporate 1 75JBA. Operation of claw‑back: application for pre‑determination in certain cases 1 75JC. Corporate reorganisations: application for pre‑determination 1 75JD. Corporate reorganisations: application for exemption 1 75JDA. Exemption may be withheld in certain cases 1 75JE. Claw‑back (instruments) 1 75JF. Claw‑back (Part IIIBA statements) 1 75JG. Offences and recovery of duty etc. 1 75JH. Revoking an exemption 1 Part IIIBA — Duty on change of control of certain land‑owning corporations Division 1 — Provisions applicable to this Part 75K. Effect of Duties Act 2008 on this Part 1 76. Terms used in this Part 1 76A. Relevant acquisitions by trustees 1 76AA. Assessment in the absence of a dutiable statement 1 76AB. Request that Commissioner determine whether dutiable statement is required to be lodged 1 Division 2 — Companies taken to be registered in Western Australia 76AG. Preparation of dutiable statement 1 76AH. Statement chargeable with duty 1 76AI. Companies to which this Division applies 1 76AJ. Meaning of "relevant acquisition" 1 76AK. Meaning of "interest", "majority interest" and "further interest" 1 76AL. How dutiable value is determined 1 76AM. Liability for duty 1 Division 3 — Corporations incorporated, or taken to be registered, outside Western Australia, and certain other companies not within Division 2 76AN. Preparation of dutiable statement 1 76AO. Statement chargeable with duty 1 76AP. Corporations to which this Division applies 1 76AQ. Meaning of "relevant acquisition" 1 76AR. Meaning of "interest", "majority interest" and "further interest" 1 76AS. How dutiable value is determined 1 Division 3a — Listed companies taken to be registered in Western Australia 76AT. Preparation of dutiable statement 1 76ATA. Statement chargeable with duty 1 76ATB. Meaning of "listed land‑holder WA company" 1 76ATC. Meaning of "relevant acquisition" 1 76ATD. Meaning of "interest", "controlling interest" and "additional interest" 1 76ATE. How dutiable value is determined 1 76ATF. Liability for duty 1 Division 3b — Listed corporations incorporated, or taken to be registered, outside Western Australia, and certain other companies not within Division 3a 76ATG. Preparation of dutiable statement 1 76ATH. Statement chargeable with duty 1 76ATI. Meaning of "listed land‑holder corporation" 1 76ATJ. Meaning of "relevant acquisition" 1 76ATK. Meaning of "interest", "controlling interest" and "additional interest" 1 76ATL. How dutiable value is determined 1 Division 4 — Reassessment of liability for duty 76AU. Reassessment where deeming provision applied 1 Division 5 — Avoidance of duty 76AV. Commissioner may determine that an obligation to lodge a statement has been avoided 1 76AW. Liability to pay duty that has been avoided 1 76AX. Reasons for determination that duty has been avoided 1 Part IIIC — Vehicle licences 76AY. Effect of Duties Act 2008 on this Part 1 76B. Terms used in this Part 1 76C. Non‑beneficial change of ownership 1 76D. Duty on the grant or transfer of a vehicle licence 1 76E. Determination of value and assessment of duty 1 76F. Payment of duty 1 76G. Applicant's statement of value in application 1 76H. Seller's obligation to notify purchase price 1 76I. Use of dealer registered vehicle for other purposes 1 76J. Use of specialised equipment on another vehicle 1 76K. Failure to apply for transfer of licence 1 76L. Powers of Director General and Commissioner 1 76M. Duty to be remitted to Commissioner 1 76N. Records 1 Part IIID — Leases 77. Agreement for any lease to be charged as a lease 1 77A. Offer to lease 1 78. Leases: how to be charged in respect of produce etc. 1 79. Directions as to duty in certain cases 1 80A. Power to exempt instruments made for charitable or similar purposes 1 Part IIIE — Mortgage duty Division 1 — Interpretation for this Part 81. Terms used in this Part M, MC 1 82. Meaning of "mortgage" 1 83. Meaning of "advance" 1 84. Meaning of "loan" 1 85. Meaning of "home mortgage" 1 Division 2 — Liability for mortgage duty 85A. Mortgage duty abolished from 1 July 2008 1 86. Assessing mortgage duty 1 86A. Exemption — refinancing home loans 1 86B. Exemption — refinancing small business loans 1 87. Liability dates 1 88. Stamping before advance 1 Division 3 — Amount secured by a mortgage 89. The secured amount 1 90. Contingent liabilities 1 91. Mortgage over property partly outside WA 1 91A. Mortgage packages 1 91B. Collateral mortgages 1 91C. Extent to which mortgage can be enforced 1 91D. Use of stamped and collateral mortgages as security 1 91E. Multi‑jurisdictional statement 1 91F. Exemptions for charitable or public purposes 1 Part IIIF — Insurance Division 1 — Interpretation in Part IIIF and connection to the State 91G. Effect of Duties Act 2008 on this Part 1 92. Terms used in this Part 1 92A. Meaning of "general insurance" and connection to the State 1 92B. Additional insurance — life riders 1 92C. Payment of premiums 1 Division 2 — Registration of insurers 93. Insurers to be registered 1 93A. Registration of insurers 1 93B. Cancelling registration of insurers 1 Division 3 — Duty payable by insurers 94. Lodging returns and paying duty 1 94A. Calculating the amount of duty payable on a return 1 94B. Return period of an insurer 1 Division 4 — Duty payable by insured persons 95. Meaning of "Division 4 insurer" 1 95A. Insured person to lodge statement and pay duty 1 95B. Insurer and intermediary to notify Commissioner of contracts of insurance 1 Division 5 — General provisions 96. Apportionment of premiums and instalments 1 96A. Refunds 1 96B. Records 1 Part IVB — Hire of goods Division 1A — Abolition of duty 112. Hire of goods duty abolished from 1 January 2007 1 Division 1 — Interpretation in Part IVB 112I. Meaning of "commercial hire business" 1 112IA. Meaning of "goods" 1 112IB. Meaning of "hire of goods" 1 112IC. Meaning of "State hire of goods" 1 112ID. Meaning of "equipment financing arrangement" and "hire purchase agreement" 1 112IE. Meaning of "hiring charges" 1 112IF. Terms used in this Part 1 Division 2 — Registration of commercial hire businesses 112J. Commercial hire businesses to be registered 1 112JA. Registration of commercial hire businesses 1 112JB. Cancelling registration of commercial hire businesses 1 Division 3 — Connection to the State 112K. Connection to the State — hire of goods and persons to which this Part applies 1 Division 4 — Commercial hire businesses 112L. Lodging returns and paying duty 1 112LA. Calculating the assessable amount for a return period 1 112LB. Calculating the amount of duty payable on a return 1 112LC. Return period for a commercial hire business 1 112LD. Annual reconciliation 1 Division 5 — Persons other than commercial hire businesses 112M. Statement of transaction 1 112MA. Lodging statements and paying duty 1 112MB. Method of calculating total hiring charges if they are not readily ascertainable 1 Division 6 — General provisions 112N. Credit for duty paid in another Australian jurisdiction 1 112NA. Splitting or redirecting hiring charges — anti‑avoidance provision 1 112NB. Ascertainment and disclosure of place of use of goods 1 112NC. Records 1 Part IVC — Exemptions in relation to aged or disabled persons 112Q. Certain residential agreements with charitable bodies exempt 1 112R. Certain aged care agreements exempt 1 112S. Instruments not required to be lodged 1 Part IVD — Maintenance agreements and orders 112UA. Terms used in this Part 1 112UB. Application of Part IVD 1 112UC. Duty on maintenance agreements and orders 1 112UD. Duty on conveyance or transfer under maintenance agreement or order 1 Part IVE — Managed investment schemes 112UE. Duty on certain instruments for the purpose of managed investment schemes 1 Part V — Miscellaneous 113. Commissioner may impound unstamped documents 1 114. Commissioner may destroy instruments 1 119. Certain exemptions where the State of Western Australia etc. is a party M 1 120. Regulations 1 121. Application of section 1070A of the Corporations Act limited 1 122. Transitional provisions 1 Second Schedule — Duties payable on instruments Third Schedule — Exemptions from duty Schedule 4 — Transitional provisions Division 1 — Provisions for Revenue Laws Amendment Act 2006 1. Application of old Part IVB 1 2. Applications under section 75AH 1 3. Application of Act to certain mortgages and advances 1 4. Application of Act to certain instruments referred to in the Second Schedule item 19 1 Division 2 — Provisions for Revenue Laws Amendment (Taxation) Act 2007 1. Application of Act in relation to certain first home owners 1 2. Application of Act in relation to certain motor vehicles — 1 July 2007 1 4. Reassessments 1 Notes Compilation table 1 Other notes 1 Defined terms Western Australia Stamp Act 1921 An Act to amend and consolidate the law relating to stamp duties upon instruments and to impose certain stamp duties, and for other relative purposes.