Commonwealth Bank of Australia v Deputy Commissioner of Taxation [2009] FCAFC 126

FEDERAL COURT OF AUSTRALIA

Commonwealth Bank of Australia v Deputy Commissioner of Taxation [2009] FCAFC 126 TAXATION – Bank Integration Act 1999 (Cth) – application of s 22(3) – partnership between transferring and receiving bank – whether partnership continues after integration – meaning of "continuity of any partnership" – application of s 22(2) – limited meaning of "revenue neutral" PARTNERSHIP – Bank Integration Act 1999 (Cth) – application of s 12 – "successor in law" – Income Tax Assessment Act 1997 (Cth) – s 995-1(1) "partnership" – partnerships have no existence separate from their members – dissolution of partnerships between transferring and receiving bank on succession day – deemed continuance of partnerships with third parties only Bank Integration Act 1991 (Cth) ss 5, 7-11, 9, 12, 13, 14-20, 21, 22, 31 Commonwealth Banks Act 1959 (Cth) Income Tax Assessment Act 1997 (Cth) s 995-1(1), Part 3-90 Income Tax Assessment Act 1936 (Cth) ss 59, 59AA, 90, 92, 166A Partnership Act 1890 (NSW) s 1

Broadcast Australia Pty Ltd v Minister Assisting the Minister for Natural Resources (Lands) (2004) 221 CLR 178 cited CIC Insurance Ltd v Bankstown Football Club Ltd (1997) 187 CLR 384 cited Woodside Energy Ltd v Federal Commissioner of Taxation (2009) 174 FCR 91 cited Tikva Investments Pty Ltd v Federal Commissioner of Taxation (1972) 128 CLR 158 applied Hadlee v Commissioner of Inland Revenue [1989] 2 NZLR 447 cited Lindley and Banks on Partnership, 3-01 et seq, 24.03 (18th ed, 2003) Second Reading Speech (H of R vol 180 at 2649)

COMMONWEALTH BANK OF AUSTRALIA (ACN 123 123 124) v DEPUTY COMMISSIONER OF TAXATION

NSD 266 of 2009

FINN, EMMETT AND PERRAM JJ

16 SEPTEMBER 2009

SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY

GENERAL DIVISION NSD 266 of 2009