Primary production State taxes Payroll tax

The stamp duty consequences of farm-in arrangements in Western Australia

Source: The Tax Specialist Journal Article

Published Date: 1 Jun 2016


Farm-in arrangements are commonly used to facilitate the exploration and development of mining projects in Western Australia. The Duties Act 2008 (WA) contains provisions which provide for the concessional treatment of these arrangements in specified circumstances. This article will examine the policy background to the farm-in concession, the transaction structures commonly adopted and the technical issues which may arise when seeking to apply the concession to different kinds of farm-in arrangements.

The article highlights potential stamp duty pitfalls for tax advisers and their clients and identifies some areas in need of legislative reform. This article will demonstrate that, while the concept of a farm-in arrangement is relatively straightforward, the application of the Duties Act 2008 to these arrangements is not and care must be exercised when drafting farm-in agreements to ensure that they do not give rise to any unintended stamp duty consequences.

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Primary production State taxes Payroll tax Land tax Miscellaneous 2016

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