Stern v Commissioner of Taxation [2024] FCAFC 21

Federal Court of Australia

Stern v Commissioner of Taxation [2024] FCAFC 21

File number(s): VID 592 of 2023

Judgment of: Thawley, Hespe and Horan JJ

Date of judgment: 1 March 2024

Catchwords: SUPERANNUATION – Div 294 of the Income Tax Assessment Act 1997 (Cth) – whether defined benefit lifetime pension excluded from calculation of excess transfer balance – reliance on Guide in determining purpose or object underlying operative provisions – contended purpose not supported by statutory text – s 294-140 neither ambiguous nor manifestly absurd or unreasonable – held: s 294-140 should be construed in accordance with words in fact used STATUTORY CONSTRUCTION - whether s 294-140 of the Income Tax Assessment Act 1997 (Cth) means what it says or should be construed in accordance with a contended purpose not evident from the statutory language used – held: s 294-140 means what it says

Legislation: Administrative Appeals Tribunal Act 1975 (Cth) Income Tax Assessment Act 1997 (Cth) Superannuation (Excess Transfer Balance Tax) Imposition Act 2016 (Cth) Superannuation Act 1976 (Cth) Taxation Administration Act 1953 (Cth)

Cases cited: BBlood Enterprises Pty Ltd v Commissioner of Taxation [2022] FCA 1112 Certain Lloyd's Underwriters v Cross [2012] HCA 56; 248 CLR 378 Cooper Brookes (Wollongong) Pty Ltd v Commissioner of Taxation [1981] HCA 26; 147 CLR 297 Mills v Meeking [1990] HCA 6; 169 CLR 214 Stern and Commissioner of Taxation (Taxation) [2023] AATA 2010 Taylor v The Owners – Strata Plan No 11564 [2014] HCA 9; 253 CLR 531 Taylor v Owners – Strata Plan No 11564 [2013] NSWCA 55; 83 NSWLR 1 Wentworth Securities Ltd v Jones [1980] AC 74