IOOF Holdings Limited v Commissioner of Taxation [2014] FCAFC 91

FEDERAL COURT OF AUSTRALIA

IOOF Holdings Limited v Commissioner of Taxation [2014] FCAFC 91 Citation: IOOF Holdings Limited v Commissioner of Taxation [2014] FCAFC 91

Appeal from: IOOF Holdings Limited v Commissioner of Taxation of the Commonwealth of Australia [2013] FCA 1189

Parties: IOOF HOLDINGS LIMITED v COMMISSIONER OF TAXATION and ADMINISTRATIVE APPEALS TRIBUNAL

File number: VID 1310 of 2013

Judges: JESSUP, ROBERTSON & DAVIES JJ

Date of judgment: 24 July 2014

Catchwords: TAXATION – whether appellant had an accrued right under s 7(2) of the Acts Interpretation Act 1901 (Cth) to have its private ruling application determined in accordance with the law as it stood prior to amendment by the Tax Laws Amendment (2012 Measures No 2) Act 2012 (Cth) – whether accrued right displaced by contrary intention ADMINISTRATIVE LAW – whether Tribunal can exercise power under s 43(6) of the Administrative Appeals Tribunal Act 1975 (Cth) to apply the law as it stood prior to amendment

Legislation: A New Tax System (Tax Administration) Act 1999 (Cth) Pt 5-5 Acts Interpretation Act 1901 (Cth) ss 2, 7 Administrative Appeals Tribunal Act 1975 (Cth) s 43 Income Tax Assessment Act 1936 (Cth) ss 170BA–170BI Income Tax Assessment Act 1997 (Cth) s 716-405 Tax Laws Amendment (2012 Measures No 2) Act 2012 (Cth) items 50, 51 Taxation Administration Act 1953 (Cth) ss 3AA, 14ZYB, 14ZZ, 359-10, 359-60, and Sch 1 ss 357-5, 357-60, 357-85, 359-5, 359-50