If your transaction involves a business licence, provide:
- the transaction record (such as an agreement to transfer). If there is no transaction record, a completed transfer duty statement
- the application to the authority that transfers or issues the business licence
- if the licence is held in connection with a lease or agreement to lease – a copy of the lease
- if the licence is to be held for security purposes or for a limited time – full details of the licence and circumstances
- details of any liabilities taken over under the transaction
- details of any debts released or extinguished under the transaction
- if the Commonwealth issued the licence – the portion of the consideration for the transaction that relates to carrying out activities in Western Australia
- if the licence is held under the Fish Resources Management Act 1994 and the transaction does not result in the passing of a beneficial interest in the licence:
- the agreement for the transfer of the units or a completed transfer duty statement and
- a completed Department of Fisheries T -1 or T-2 application form (whichever is applicable)
- any other information that may assist us to assess duty.
In addition, if the parties to the transaction are:
- related by blood, marriage, co-ownership or prior business relationship
- related corporations as defined in the Corporations Act 2001
- partners in a partnership
- participants in the same joint venture
- trustees of trusts which have common beneficiaries
- joint owners of property
- not at arms’ length by any other circumstances
provide:
- complete financial statements for the owner of the business licence for the three years prior to the date of the transaction, including bar trading accounts for a licence under the Liquor Licensing Act 1988
- a valuation of the licence. If the Commonwealth issued the licence, provide a valuation that relates to carrying out activities in Western Australia.
An assessment of duty will not be issued until all required information is provided.
