News

New Duties Landscape on the Horizon

11.12.2018
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The most significant changes to the Duties Legislation

First up are the proposed changes on how a farm-in will be treated under the WA Duties Act 2008, this has significant issues on how the funds spent and allocated should be considered in order to avail a transaction to the concessions available under the Act. The proposed legislation will be backdated to 28 November 2018. The drafting of a farm-in should carefully consider the requirements of the proposed amendments.

Second, a significant volume of changes designed to “stop duty leakage” has been […]

Valuation of a Landholder

5.12.2017
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Placer Dome Inc -v- Commissioner of State Revenue [2017] WASCA 165

How to approach a valuation of the land interests held in a landholder has always been an area of contention between what the client and practitioners believe is an appropriate valuation of land (and chattel) interests and that to which the Commissioner believes is the correct approach. In a very general sense the Commissioner has ordinarily adopted a “top down” approach. This approach in our view does not take into account the many external elements or synergies associated with an acquisition of […]

Structure of a Transaction – Careful what you choose

17.03.2017
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ROJODA PTY LTD and COMMISSIONER OF STATE REVENUE [2017] WASAT 35

Whilst the particulars of this SAT decision revolves around the nature of property held under a partnership and trust arrangements – the issue I see worth considering is the importance of the structure or steps in drafting agreements to reflect the transaction. It may have been possible to proceed with an agreement to distribute and follow the requirements for nominal assessments under the WA Duties Act.

In summary, as described in the judgement…

“Those properties were the partnership property of the Scolaro Investment […]

Is “Information” now dutiable property? – Proposed legislation

5.11.2014
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Taxation Legislation Amendment Bill (NO. 2) 2014

Significant amendments are before parliament in relation to the way the Commissioner is to treat information when assessing duty on property, in particular mining tenements.

The Explanatory amendments (reflecting the Commissioner’s approach) says:

“Finally, taxpayers continue to attempt to shift value away from dutiable property, such
as land and chattels, to other assets that do not attract duty.
These situations most commonly occur in relation to transfers of interests in mining
companies, where attempts to minimise the value of dutiable mining tenements are
made by […]