Western Australian Numbered Acts Western Australian Numbered Acts (1) In
section 29(2):
(a) in
paragraph (a) in the definition of the variable “A” in
subparagraph (ii)(II) delete “shareholder” and insert:
shareholder, or a
person related to the shareholder,
(b) in
paragraph (b) in the definition of the variable “A” in
subparagraph (ii)(II) delete “unit holder” and insert:
unit holder, or a
person related to the unit holder,
(2) In
section 29(3) insert in alphabetical order:
person related , to a shareholder or unit holder,
means that the person and the shareholder or unit holder are related persons
within the meaning of section 162(1)(a) to (g);
(3) After
section 29(3) insert:
(4A) For the purposes
of paragraph (a)(ii)(II) or (b)(ii)(II) of the definition of the variable
“A” in subsection (2), the Commissioner may exclude part or
all of the amount of any liability that a person related to a shareholder or
unit holder, as the case requires, has assumed or discharged if the
Commissioner is satisfied that it is appropriate to do so having regard to the
application of subsection (2) to all other transfers of corporation or
unit trust scheme property in respect of the same corporation or unit trust
scheme.