Part 5Application of this Chapter to certain transactions

Part 5 — Application of this Chapter to certain transactions Division 1 — Simultaneous put and call options 44. Terms used 63 Subdivision 2 — Simultaneous put and call options 45. Call option of simultaneous put and call option to be taken to be agreement for transfer of option property 64 46. Simultaneous put and call option, dutiable value of 65 47. Dutiable transaction referred to in s. 45, duty paid on to be credited 65 48. Simultaneous put and call option not exercised or assigned, consequences of 66 Subdivision 3 — Assignment of call option 49. Assignment of call option to be taken to be agreement for transfer of option property 67 50. Assignment of call option, dutiable value of 67 51. Dutiable transaction referred to in s. 49, duty paid on to be credited 68 52. Assigned call option not exercised or further assigned, consequences of 68 Division 2 — Discretionary trust acquisitions and surrenders 53. References to partnership or trust holding property 69 54. References to taker in default 69 55. References to trust acquisition 69 56. References to trust surrender 70 57. When discretionary trust holds indirect interest in dutiable property 70 Subdivision 2 — Trust acquisitions and trust surrenders 58. When person acquires interest in discretionary trust 70 59. Trust acquisition or trust surrender, dutiable value of 71 60. References to interest in discretionary trust of taker in default 71 61. Taker in default’s interest, value of for s. 59(b) 72 62. When trust acquisition or trust surrender is not dutiable transaction 73 Division 3 — Corporate trustees 63. Terms used 74 64. References to trustee of discretionary trust holding property 74 65. References to corporate trustee 75 66. When corporate trustee holds indirect interest in dutiable property 75 Subdivision 2 — Disposition of shares in a corporate trustee 67. Share disposition taken to be agreement for transfer of trust property 75 68. Transaction referred to in s. 67, dutiable value of 76 69. Person liable to pay duty on disposition of share 76 Division 4 — Partnerships 70. Term used: dutiable property 77 71. References to partnership or trust holding property 77 72. References to partnership acquisition 77 73. When partnership holds indirect interest in property 78 74. References to partner’s partnership interest 78 Subdivision 2 — Acquiring partnership interests 75. When person acquires partnership interest 78 76. Partnership acquisition, dutiable value of 79 77. Partnership interest, value of for s. 76(b) 80 78. Dutiable value of transfer of dutiable property to retiring partner 82 78A. Certain retained property taken to be transferred to retiring partner 83 Division 5 — Western Australian business assets 79. Terms used 84 Subdivision 2 — Particular transactions involving business assets 80. Some transactions involving business licences to be taken to be agreements for transfer 88 81. Transactions for particular WA business assets that are not dutiable transactions 88 Subdivision 3 — Dutiable value of dutiable transactions for business assets 82. Dutiable transaction for business asset, dutiable value of 89 83. Certain business licences required by Cwlth law, dutiable value of for s. 82(a) 90 84. Business licences required by WA law, dutiable value of for s. 82(b) 90 85. Dutiable value of business asset where principal place of business is in WA 91 86. Dutiable value of business asset where principal place of business is out of WA 91 Division 6 — Conditional agreements 87. References to conditional agreement 92 88A. General conditional agreements, no duty on if terminated on relevant grounds 96 88. References to farming land conditional agreement 97 89. References to mining tenement conditional agreement 97 90. References to issue of title conditional agreement 97 91. References to subdivision conditional agreement 98 Division 7 — Rights relating to fixed infrastructure 91A. Terms used 98 91B. Some transactions involving fixed infrastructure statutory licences to be taken to be agreements for transfer 100 91C. Which transactions as to fixed infrastructure access rights and fixed infrastructure statutory licences are dutiable 100 91D. Dutiable value of fixed infrastructure statutory licences 102