The 'matter' in s 20 of the Stamp Act 1921 (WA) is the composite set of circumstances giving rise to the obligation to pay duty — the conveyance on defined terms recorded by the instrument — not the subject property. Where a contract is entirely terminated and replaced by a separate stand-alone contract for the same property, the matter in the first instrument is not carried into effect and the taxpayer is entitled to a full refund of duty on the first instrument, provided no benefit was received. A benefit under s 20(4) must derive causally from the terminated instrument, not merely from the fact that the parties subsequently entered into a new contract for the same property.
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